What is the term used for the act of moving some of a company’s internal activities and decision-making processes to outside providers?
Outsourcing is the act of moving some of a company's internal activities and decision-making processes to outside providers.
Outsourcing is the process in which an outside party is hired by the company to perform some specific activities or services and manufacture some goods earlier produced in the organization. This process is used as a cost-cutting tool and to keep a keen focus on core areas in which the business operates.
Outsourcing is a contract in which one business hires some other firm to be liable for a planned and a current operation that is or might be performed internally. It may also include the movement of workers and resources from one organization to the other.
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