The contemporaneous society is evolving at a rapid pace and we must all adjust in order to keep up with it. The business community has been affected by numerous forces of both micro and macroeconomic nature. A major macroeconomic force which directly impacts corporate organizations is the liberalization of markets. And this refers similarly to the free circulation of products, services, capital as well as workforce.
             Given that countries are now free to trade, the international competition has increased drastically and manufacturers must constantly increase the efficiency of their operations and improve the quality of their products, while in the same time promoting a competitive retail price. The combination of the need to reduce costs and the possibility to hire foreign workforce for lower wages has led to outsourcing. i¿½Outsourcing involves the sourcing of goods and services previously produced internally within the sourcing organization to external suppliers. The term outsourcing can cover many areas, including the outsourcing of manufacturing as well as services. The term outsourcing is most commonly used in relation to the switching of the supply of product or service activities to external suppliers.i¿½1
             A renowned international company which implemented the outsourcing strategies is Nike, the leader on the market of sports shoes. Headquartered in Oregon, United States of America, Nike Incorporated operates through 500 manufacturing facilities located in 45 countries. i¿½Nike has more than 500 contract factories around the world in about 45 countries.i¿½2
             2.i¿½i¿½i¿½i¿½i¿½ Overview of Economic Concepts
             The occurrence of outsourcing was possible due to market liberalization and globalization. The term globalization is an extremely wide one and refers to areas such as culture, politics or economics and it basically reveals the influence countries have one upon the other. i¿½Globalization as a concept...