Which best describes the practice of outsourcing?A.Employing workers in other countries to save on labor costsB.Giving political positions to members of other political partiesC.Enforcing minimum wage laws and fair trade practicesD.Providing jobs to members of labor unions
Question
Which best describes the practice of outsourcing?A.Employing workers in other countries to save on labor costsB.Giving political positions to members of other political partiesC.Enforcing minimum wage laws and fair trade practicesD.Providing jobs to members of labor unions
Solution
The best description for the practice of outsourcing is A. Employing workers in other countries to save on labor costs. This is because outsourcing typically involves shifting tasks, operations, jobs, or processes to an external contracted third party for a significant period of time. The functions that are outsourced can be performed by the third party either onsite or offsite of the business. This practice is often done to save on labor costs, especially when the workers in other countries can perform the same job for a lower cost.
Similar Questions
What is outsourcing?A.The lowering of domestic wagesB.Selling goods abroadC.Having work done abroadD.The use of ISO containers
What is Outsourcing?By giving an outside party the responsibility to make goods for your company By producing the goods within your company
Explain the term 'outsourcing
Which of the following is NOT true about outsourcing?Group of answer choicesIt is a cost-cutting techniqueIt involves transferring jobs overseasIt brings jobs to high-income countriesAll the above are true about outsourcing
Outsourcing is a strategy that involvesMultiple choice question.conducting value chain operations in-house rather than relying on outside vendors.merging with or acquiring a company that specializes in an operation further up the value chain.contracting out certain value chain activities that are normally performed in-house to outside vendors.moving value chain activities from one division in the company to another.
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