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Outsourcing

Outsourcing is an effective cost-saving strategy when used properly. It is sometimes more affordable to purchase a good from companies with comparative advantages than it is to produce the good internally.
In business, outsourcing involves the contracting out of a business process to another party (compare business process outsourcing). The concept “outsourcing” came from American Glossary ‘outside resourcing’ and it dates back to at least 1981.

  
Picture: Kaler kantha

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