In this video, we’ll discuss what outsourcing is, who it impacts, how it works, its history and benefits. Outsourcing can be defined as the practice of contracting out certain business activities to third parties. Outsourcing activities are typically non-core operations that are performed by specialized service providers. The decision to outsource is often made when a company feels like it can no longer handle certain tasks in-house due to lack of resources or expertise. Outsourcing also allows companies to focus on their core business activities while reducing costs associated with outsourcing services.
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