Outsourcing

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Outsourcing or Business Process Outsourcing BPO became part of the business lexicon during the 1980s, when the trend towards subcontracting specific processes to third party companies grew. Today, processes ranging from product design, transcription of records and notes, actual manufacturing to website designing are often outsourced.

There are many benefits to outsourcing --

1. It lowers costs

2. Redirects or conserves energy directed at the competencies of a particular business

3. It makes more efficient use of labor, capital, technology and resources.



References