Re: Hammer nail head
Blotto - there is a lot of "me too" in business.
Hard to say who was the genius behind this particular game plan, but the others followed suit so as not to be left behind.
Not every "idea" is a good one though.
Probably the root cause of the decline of the US ITO megacorps was the threat from the new Indian owned ITO's themselves. They decided that the low cost alternatives were gaining traction quicker and they had to react.
After the mad waves of offshoring had happened the next problem was the financial crash of 2008. How do you grow to meet the demands of Wall Street in a flat/declining market?
The problem was root and branch though as the client base was facing the same problems in their own businesses (whatever those were) and they too needed "growth" to meet the demands of their share holders.
Next idea, axe everything, buy back shares, artificially manipulate the share price and collect huge executive payouts.
And here we are... what's not to love eh?
Markets are still flat, the post 2008 "recovery" is utterly artificial and the share indexes have an elephant bigger than the room its standing in.
Crash time is inevitable.