Outsourcing Definitions

Outsourcing is when a company hires an external organization to handle certain tasks or services instead of doing them in-house. This allows the company to focus on its core activities while leveraging specialized expertise and often reducing costs. For example, a business might outsource customer support, IT services, or manufacturing to firms that specialize in those areas. Outsourcing can improve efficiency and flexibility, but it also involves managing external relationships and quality control. It’s a common strategy used worldwide to optimize resources and stay competitive.