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Outsourcing

Outsourcing is the business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office. Outsourcing is also the practice of handing over control of public services to private enterprises even if on a short-term limited basis.

Outsourcing includes both foreign and domestic contracting, and sometimes includes off shoring (relocating a business function to a distant country) or near shoring (transferring a business process to a nearby country).

Off shoring and outsourcing are not mutually inclusive: there can be one without the other. They can be intertwined (Offshore outsourcing), and can be individually or jointly, partially or completely reversed, involving terms such as re shoring, in shoring, and in sourcing.

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