what do you mean by outsourcing?

Answer 1

A corporation contracts with another company or individual (not part of the corporation) to do work for the corporation.

The company or individual being contracted to do the work may or may not be in the same country as the corporation contracting with them to do the work.
.

Answer 2

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

Outsourcing means hiring an outside firm to handle certain business functions so that the company does not incur the expense associated with having employees dedicated to that function. For example, instead of a company directly employing 100 phone reps to handle customer support, they hire an outside firm to provide customer support services.

There are numerous pros and cons to this depending on whether you are the customer (pro: I can now get 24 hour support; con: that support may not be too good), the company (pro: save expenses from salaries, benefits, etc.; con: they have to pay the outside firm and don't have the same level of control that they would have if the reps worked directly for them), or employee (pro: if my job is not outsorced, you may stand to make more money if the stock goes up; con: risk of losing your job if your function is outsourced).

Definitely a sensitive topic, especially if you or someone you know has lost their job because their job function has been outsourced.

Answer 4

You want another company to do some of your business functions for you because you think it will be more cost efficient or they are more effective in doing the job than you will if you do the process by yourself. An advantage of outsourcing is that it allows a company to focus on its core competencies.

A simple example is a bank hiring another company to do cleaning/janitorial services.

Answer 5

Outsourcing means outside work to a 3rd party contractor.

Example: Temp. services. The company contacts a temp. service, who in turn contacts staff to fill a need rather than hiring a person directly.

Answer 6

Getting work done from outside agency or by hiring instead of being done fron inside source is generally known as outsourcing.

Answer 7

This may explain outsourcing.
I called crises hotline last night. Got a number in Pakistan. Told the lady I want to commit suicide.
She asked me if I could drive a truck.

Answer 8

Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company.

Answer 9

Satisfying particular requirement of your corporate or company through a contractor, which can be company or individual, against a particular consideration (payment).

Answer 10

simple...you hire carpet cleaners to do vacuming your carpet ...a thing for which you have no time...so you hire them and pay for the service....still better example is you write a letter and post it...postal agency takes care of delivering at the address...why you dont do it yourself? because it is lot cheaper ...Imagine your writing a letter and taking it to your friend and delivering it is int it costly....