5 Questions
Which of the following best describes outsourcing?
A corporation turning over responsibility for production to independent suppliers
What is the fundamental reason for outsourcing?
Specialization
What does ERP stand for?
Enterprise Resource Planning
What does the Leavitt Diamond represent?
Information technology use, organizational form, requisite people skills, business processes
What do enterprise applications automate?
Processes that span multiple business functions and organizational levels
Study Notes
Outsourcing
- Outsourcing is the practice of assigning a company's non-core functions to external providers who can perform them more efficiently and effectively.
Reasons for Outsourcing
- The fundamental reason for outsourcing is to reduce costs and improve efficiency.
ERP
- ERP stands for Enterprise Resource Planning.
Leavitt Diamond
- The Leavitt Diamond represents a framework for organizational change, consisting of four interactive elements: task, structure, people, and technology.
Enterprise Applications
- Enterprise applications automate business processes across the organization, such as financial management, human resource management, and supply chain management.
Test your knowledge on outsourcing and offshoring with this quiz! Explore the reasons why corporations choose to outsource, the role of overseas firms as subcontractors, and the concept of specialization in business. Discover how companies are adapting to a changing global landscape.
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