Question

Name the modern process of contracting a business function to someone else. Answer in a word / phrase / term.

Answer 1

The correct answer to this question is outsourcing.

"Outsourcing" refers to the agreement that allows one company to hire another company and it often includes the involvement of contracting the business processes which include facility management, manufacturing, call center support etc.

The term has been derived from outside resourcing and can be dated back to 1981