GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Outsourcing stands for
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Slowing down of production
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Encouraging voluntary retirement
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Retrenching services of surplus employees
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Contracting out the work to other organisations
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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 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.
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