INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ is contracting with other companies for services.
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Hiring
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Outsourcing
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Packaging
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Cooperation
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Explanation:
Detailed explanation-1: -Outsourcing business functions is sometimes called contracting out or business process outsourcing. Outsourcing can involve using a large third-party provider, such as a company like IBM to manage IT services or FedEx Supply Chain for third-party logistics services.
Detailed explanation-2: -Outsourcing definition Outsourcing is a business practice in which services or job functions are hired out to a third party on a contract or ongoing basis.
Detailed explanation-3: -There are three main types of outsourcing contracts that you may want to consider: fixed price, target cost contract, and time and materials contract.
There is 1 question to complete.