GENERAL KNOWLEDGE

Detailed explanation-1: -Offshoring is a process of relocating business operations to another country to take advantage of lower costs and differing labor laws. The process is quite popular in many industries and there is a wide range of reasons why organizations may choose to start offshoring some projects.

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: -Offshoring is when a business relocates or moves part of its operations to a country different from the one it currently operates in. Outsourcing is when a company contracts with another company to do some work for another. This can occur domestically or in an offshoring situation.

Detailed explanation-4: -The definition of offshoring is the practice of relocating business processes or work functions to another country in order to cut costs and increase efficiency. Companies may choose to outsource certain tasks or entire processes to low-cost countries, where labor may be cheaper or more skilled.

Detailed explanation-5: -Outsourcing occurs when a company contracts a specific process out to a third party, finding someone who specializes in whatever needs to be done. Offshoring happens when businesses send in-house jobs overseas.