Outsourcing History and Concepts

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According to The Economist, when did outsourcing start making its presence felt?

The Economist states that outsourcing has 'made its presence felt since the time of the Second World War.'

What is outsourcing and when did the term originate?

Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally. The term originated no later than 1981.

What are the examples of business processes that are often outsourced?

Examples of business processes often outsourced include payroll processing, claims processing, operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support.

Define offshoring and explain how it relates to outsourcing.

<p>Offshoring is relocating a business function to a distant country. Offshoring and outsourcing are not mutually inclusive; one can exist without the other, but they can be intertwined (offshore outsourcing).</p> Signup and view all the answers

What are some methods of reversing offshoring and outsourcing?

<p>Methods of reversing offshoring and outsourcing include reshoring, inshoring, and insourcing. These methods can be individually or jointly, partially or completely reversed.</p> Signup and view all the answers