what is outsourcing?

Answer 1

Outsourcing is going outside of a designated region to produce a needed good for less than the cost to produce it within that region.

Many companies can produce a good at a cheaper price if they are to pay an outsider to do the task instead of doing it internally.

In regards to the United States, the normal American Citizen wants to have the best product at the cheapest prices.

Because of the worker demands on the workforce (i.e. minimum wage, workers unions, business healthcare etc) the price of goods are not always the cheapest. When you look aboard at countries who do not require the same rights for their employees then their products can be cheaper. (i.e. China and near slave labor) Because Wal-mart does so much business with China they are able to keep their prices low in the US stores.

Answer 2

The term outsourcing refers to the process of contacting a third-party organization that does some work for the client company.

Outsourcing is having some of a company's work moved from an internal one to an external one, a company which has no direct connection to the client firm. Traditionally, this was used in marketing and advertising. But small businesses increasingly use outside agencies for hiring, payroll, and benefit coordination because it allows for a controlled, relatively fixed cost.
Outsourcing refers to obtaining goods and services from outside whereas you have an internal source.

Answer 3

when a company fires it's employees--usually customer service techs, and hires in a "third world" country, such as india or pakistan.
they can pay substandard wages, no insurance, etc. it saves them a lot of money, while putting americans out of work.

Answer 4

it's when you run a business and you contract other companies to do some of your work. (ex.: when credit card companies hire people in other countries to make calls about past due bills and such.)

Answer 5

When a company hires another company to perform the work their employees would normally do!!