ENTREPRENEURSHIP

Detailed explanation-1: -Outsourcing is a business practice in which a company hires a third party to perform tasks, handle operations or provide services for the company.

Detailed explanation-2: -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.

Detailed explanation-3: -Outsourcing is when a company negotiates a contract with a third party to perform a specific function. 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.

Detailed explanation-4: -Outsourcing is when a company hires a third party to perform their task; in other words, when a company employs another company to fulfilling its tasks, it is termed outsourcing.