ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -When outsourcing a process or operation, it is vital to find a company or person that specializes in the task at hand. However, offshoring is when a company sends in-house jobs to be performed in another country. An example of offshoring is for a United States-based company to produce their goods in Mexico.

Detailed explanation-2: -Offshoring is the relocation of a business process from one country to another-typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring.

Detailed explanation-3: -Call centers, help desks, finance and accounting services for the organizations internal operations are all examples of offshore outsourcing. Infrastructure and technology outsourcing services generally include services that support an organization, such as, networking, technology services and support, etc.

Detailed explanation-4: -Large tech corporations such as Apple, IBM, and Microsoft offshore their departments to other countries. Countries like the Philippines and India are the top offshoring destinations for IT companies because of their infrastructure and staffing. Furthermore, offshoring addresses common challenges in business operations.