Outsourcing and Offshoring: Benefits and Risks Analysis
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Distinguish between outsourcing and offshoring as they relate to business processes.
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Solution Summary
This solution explores the concepts of outsourcing and offshoring. It provides an overview of the risks, criticisms, and benefits associated with each concept.
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Dear Student,
There is a distinct difference between outsourcing and offshoring. Outsourcing refers to an organization that contracts certain segments of their business to a third party. For example, an organization may outsource work to perform environmental studies, review contracts, or even customer service. Offshoring refers to the practice of hiring a vendor to do the work offshore. Organizations may take this route because costs are cheaper to do it offshore or regulations are more ...
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