Question

Which of the following statements is true about outsourcing? *

Answer 1

Answer:

Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure.

Explanation:

From the above question,

Advertising, office and warehouse cleaning, and website development are the best examples of outsourcing. Most business owners delegate authority to outsourced specialists when it comes to bookkeeping, maintenance, recruitment. This helps enterprises to focus most of their resources on the main activity.

A few of the main categories include:

• Professional outsourcing.
• IT outsourcing.
• Manufacturing outsourcing.
• Project outsourcing.
• Process outsourcing.
• Operational outsourcing.

Outsourcing is a common practice of contracting out business functions and processes to third-party providers. The benefits of outsourcing can be substantial - from cost savings and efficiency gains to greater competitive advantage.

Outsourcing involves contracting with a third-party company to provide certain business processes or functions. The hiring and third-party companies may work in the same country or another one. Outsourcing can help a company reduce its labor costs and expenses.

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Answer 2

In this question, we are asked to tell which of the following statements is true about outsourcing.

• Option D is the correct answer i.e., Outsourcing refers to an employer transferring responsibility to a third-party provider to manage one or more benefits.
• Outsourcing is the practice of using a third party from outside a business to perform duties or create goods that were previously completed internally by the business's staff members. Businesses regularly employ outsourcing as a way to reduce costs.
• Outsourcing is the practice of contracting out business operations and procedures to external vendors. Outsourcing can have several benefits, from cost savings and improved efficiency to greater competitive advantage.
• Contracting with a third-party business to offer specific business procedures or functions is known as outsourcing. The hiring and third-party businesses may be based in the same nation or abroad. A business can cut costs by outsourcing some of its work.

CORRECT QUESTION-

Which of the following statements is true about outsourcing? *

A) Group of answer choices Outsourcing some or all benefits administration is decreasing.

B) Companies outsource roughly one-tenth of all their benefits functions.

C)Outsourcing agreements are every month.

D) Outsourcing refers to an employer transferring responsibility to a third-party provider to manage one or more benefits.

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