Outsourcing for business

What is it, and how important is it for business?

It is the process of hiring another individual or company, either domestically or internationally, to handle business activities for you. Look this video https://youtu.be/uQ2oJSPclE8. Also you need to know how to choose the outsourcing partner. Here https://www.innovecs.com/ideas-portfolio/how-to-choose-outsourcing-partner/ you can find main points that should lead you to the idea of what is important to look for when you are selecting outsourcing partner.

It means an agreement in which one company contracts-out a part of existing internal activity to another company.It involves the contracting out of a business process and operational, or non-core functions (e.g. manufacturing, facility management, call center support) to another party
Outsourcing sometimes, though not always, involves transferring employees and assets from one firm to another.

 

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