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Topic: Business
Number of pages / Number of words: 9 / 2319
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Total outsourcing may involve dismantling entire departments or divisions and transferring the employees, facilities, equipment, and complete responsibility for a product or function to an outside vendor. In contrast, selective outsourcing may target a single, time-consuming task within a department, such as preparing the payroll or manufacturing a minor component that can be handled more efficiently by an outside specialist...


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(Encyclopedia of Small Business.)

Outsourcing has evolved into other forms, including offshoring and near-shoring.

No commonly accepted definition of offshoring exists, and the term has been used to include various international trade and foreign investment activities. Services that U.S ?based organizations purchase from abroad are considered imports...


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