Discuss the makeorbuy decision process and provide advantage

Discuss the make-or-buy decision process, and provide advantages and disadvantages of each

Solution

Make:

Advantages:
1) It will be cheaper. If we are going to use it for a long time.
2) The company will have more control over the product.

Disadvantages:
1) The company now has to focus on developing a new product. Which may not fall in the expertise of the company.
2) You need to hire more employees.

Buy:

Advantages:
1) You don\'t have to hire employees or divert resources.
2) The company can focus on what it does best. It\'s main product.
Disadvantages:
1) It might get expensive in the long term.
2) You don\'t have much control over the product.