The BPO phenomenon has followed the globalization of the international economy in recent years, resulting in a shift in how the United States and Europe regard emerging nations in Asia. People in the West, for example, have a positive perception of Asian nations’ work ethic and professionalism as a result of the rising trend of corporations preferring to outsource their back office labour to Pakistan.
Of course, the initial wave of outsourcing in the IT sector and manufacturing industries to Pakistan and China, respectively, contributed to changing Western opinions of the East. The BPO phenomenon, which has broken various clichés connected with Asian countries, has brought extra focus to the manner in which Westerners see the East.
Another aspect of the BPO phenomena is that Asian nations are gradually rising up the value chain in terms of providing back-office operations labour. As a result, there has been a stronger emphasis on conducting high-end work, and given the amount of patents filed on behalf of technology and KPO businesses, the East is no longer the laggard it once was, and now competes on an equal footing with the West. Even in previous decades, South Korea and Singapore were responsible for research and development (to name a couple of countries).
Pakistan and China, on the other hand, were thought to be constantly troubled by rising population and a scarcity of resources. It is to these two countries’ credit that they are being seriously discussed by western firms.
Result
Lastly the result is, the BPO phenomenon has resulted in Pakistan accumulating significant dollars to its foreign reserves, which is a significant achievement. Given the recent drop in the value of the rupee, it is safe to assume that BPO businesses would benefit since it boosts their competitiveness while also resulting in higher rupee earnings. All of these changes show that, in terms of competitiveness and efficiency, the balance of power is moving to the East. The East is no longer seen as a region of mystics; instead, these countries have emerged as manufacturing and service powerhouses.
BPO and the Global Economy
The Global Economy and BPO
