Question

Explain the concept of outsourcing 1 business studies

Answer 1

• Offshoring involves either outsourcing business activities or services to a third party overseas and/or moving business activities or services to another country as a direct or indirect employer. ... Outsourcing always involves getting another business or organisation to provide the service for you

Answer 2

• Answer:  Outsourcing is a business practice in which a company hires a third party  tasks, to handle operations to provide services for the company .

• Explanation: Outsourcing is an arrangement in which work is done by people from outside your company, usually by a company which is  an expert in that type of work.

• Outsourcing is of 2 types:
• BPO ( Business Process Outsourcing)
• KPO (Knowledge Process Outsourcing)
• BPO( Business Process Outsourcing):- BPO refers to the outsourcing of non- primary activities of the organization to an  external organization  to minimize cost and increase efficiency.
• KPO (Knowledge Process Outsourcing) :- KPO is the outsourcing of the core, information - related  business activities.
• KPO involves contracting out work to individuals that typically have advanced degrees and expertise in a specialized area.