FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -Outsourcing is mainly a cost-cutting strategy wherein a business allocates out entire business functions within their firm to a third party on a permanent basis. Subcontracting is a process where a business hires an outside individual or organisation to perform a specialised task that cannot be completed internally.

Detailed explanation-2: -“Outsourcing” generally refers to “contracting out” and “contracting in”. In labour law, “contracting out” refers to work that is performed by non-employees at a place other than the employer’s establishment or usual place of work.

Detailed explanation-3: -Outsourcing is a business practice in which a company hires a third party to perform tasks, handle operations or provide services for the company.