What is Outsourcing?

Outsourcing

Outsourcing is the concept of delegating some portion of the day-to-day business to an external service provider.
To be precise, when a company gets some part of its business done by outsiders, is called outsourcing.
When the economy is growing, it is very necessary for the companies to find out different ways and means to stay in the market and expand their business nationally and internationally.
Many big and small business organizations outsource their additional business activities to the other organizations so that they may concentrate on their core business competencies.
For example, the insurance companies outsource their telesales activities to the other organizations which set up their own infrastructure and allots its own employees to sell the products.
In brief, outsourcing is a condition when a business activity is performed by a group of people who are not full-time employees of the company.
I will discuss more on outsourcing in my next posts.