Question

Outsourcing involves contract for performance explain any three points of this aspect of outsourcing​

Answer 1

Answer:

1. Outsourcing refers to the process of hiring e professional agency/individual/organization (external in nature) to carry out certain tasks on behalf of the organization.
2. Outsourcing is a process that involves creation of a contract between two parties wherein necessary conditions of contract are mentioned and a tenure is decided upon alongside the amount to be finalized and paid to the contractor/outsourcing party.
3. Example: A bakery specializing in baking delicious cakes and pastries hired a packaging agency to pack it's baked goods to encourage sales and further outreach to common people, thus expanding the business network to local sectors.