what does offshore outsourcing or contracting out mean
Offshore outsourcing Offshore outsourcing is the practice of hiring an external organization to perform some business functions ("Outsourcing") in a country other than the one where the products or services are actually developed or manufactured ("Offshore"). It can be contrasted with offshoring, in which a company moves itself entirely to another country, or where functions are performed in a foreign country by a foreign subsidiary. Opponents point out that the practice of sending work overseas by countries with higher wages reduces their own domestic employment and domestic investment. Many customer service jobs as well as jobs in the information technology sectors (data processing, computer programming, and technical support) in countries such as the United States and the United Kingdom - have been or are potentially affected.
Outsourcing In business, outsourcing is an agreement in which one company contracts its own internal activity to different company.[1] It involves the contracting out of a business process (e.g. payroll processing, claims processing) and operational, and/or non-core functions (e.g. manufacturing, facility management, call center support) to another party (see also business process outsourcing). The concept "outsourcing" came from the American Glossary 'outside resourcing' and it dates back to at least 1981.[2][3] Outsourcing sometimes, though not always, involves transferring employees and assets from one firm to another. Outsourcing is also the practice of handing over control of public services to private enterprise.[4]
Economic nationalism While the coining of the term "
Insurance Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.