outsourcing : When an international business decides to buy a service or process, it is resorting to what is known as an outsourcing strategy. Outsourcing is the act of moving some of the firm's internal activities and decision responsibility to external service providers. e.g.
If a A-Institute, for example, assigns house-keeping of the institute to an external contractor, it is outsourcing the work of house-keeping. Complete responsibility for house-keeping--equipment for scrubbing, mowing, washing, dusting, staff-is taken over by the service provider.
Reasons & Risks for Outsourcing
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