Asked by Preston Heffington on Jul 11, 2024
Verified
Outsourcing is the use of outside vendors to produce goods or fulfill services and functions that were previously handled in-house or in-country.
Outsourcing
Outsourcing is the practice of hiring third-party service providers to handle certain business functions or operations outside the company to save costs and focus on core competencies.
Outside Vendors
External organizations or individuals that supply goods or services to a company, often in areas not core to the company’s main business.
In-house
Activities or operations performed within an organization by its own members or employees, rather than by external parties.
- Identify the reasons and benefits of outsourcing.
Verified Answer
Learning Objectives
- Identify the reasons and benefits of outsourcing.
Related questions
What Are Two Primary Reasons Why Organizations Outsource ...
What Happened to Schwinn,a U.S.bicycle Manufacturer ...
Outsourcing Is a Contractual Relationship for the Provision of Business ...
Activities That Are Most Likely to Be Outsourced Include Ones ...
Each of the Following Is a Disadvantage of Buying Rather ...