Definitions for outsourcing
out·sourc·ing

WiktionaryRate this definition:4.0 / 1 vote

1. outsourcingnoun

   The transfer of a business function to an external service provider

WikipediaRate this definition:0.0 / 0 votes

1. Outsourcing

   Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside resourcing, originated no later than 1981. The concept, which The Economist says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises (privatization), even if conducted on a limited, short-term basis, may also be described as outsourcing.Outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring (relocating a business function to a distant country) or nearshoring (transferring a business process to a nearby country). Offshoring and outsourcing are not mutually inclusive; one can exist without the other. They can be intertwined (offshore outsourcing), and can be individually or jointly, partially or completely reversed, in methods including those known as reshoring, inshoring, and insourcing.

WikidataRate this definition:4.0 / 2 votes

1. Outsourcing

   Outsourcing is the contracting out of an internal business process to a third-party organization. The term "outsourcing" became popular in the United States near the turn of the 21st century. Outsourcing sometimes involves transferring employees and assets from one firm to another, but not always. The definition of outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring, which means relocating a business function to another country. Financial savings from lower international labor rates is a big motivation for outsourcing/offshoring. The opposite of outsourcing is called insourcing, which entails bringing processes handled by third-party firms in-house, and is sometimes accomplished via vertical integration. However, a business can provide a contract service to another business without necessarily insourcing that business process.

How to pronounce outsourcing?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say outsourcing in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of outsourcing in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of outsourcing in Pythagorean Numerology is: 9

Examples of outsourcing in a Sentence

1. Amy Peikoff:

   Individuals should not be outsourcing their critical thinking toanyone — whether another individual, a company … or a government official, how has the West come to distrust the individual in such a fundamental way ? An appeal to authority is, as basic logic tells us, a fallacy. It is not the road to salvation, no matter how well intentioned.

2. Washington Post:

   A fascinating thing to watch will be the dividing lines among Democrats, particularly Senate Democrats, and particularly those running for the 2020 Democratic nomination, we saw a little bit of that at the debate on Thursday, when you saw Sen. Bernie Sanders saying he would not support the agreement... that he's still concerned about outsourcing jobs to Mexico.

3. United States:

   Everyone will still be able to have all necessary data flows with United States, like sending emails or booking a hotel in United States, some EU businesses may not be able to use United States for outsourcing anymore, because United States surveillance laws requires these companies to disclose data to the National Security Agency( NSA).

4. Shalini Sinha:

   Contract work for textiles has been growing exponentially because of the growing popularity of readymade garments and fast fashion, even in India, many leading global brands are outsourcing to homeworkers, even if they are unaware of it. Homeworkers are the most vulnerable in the chain, yet they bear a lot of risks because the economic compulsion is so strong.

5. Jeong Yun-woo:

   Apple outsourcing car production to Hyundai makes sense, because (the Korean firm) is known for quality, but I’m not sure whether it is a good strategy for automakers to be like the Foxconn of Apple as automakers face risks of losing control to tech firms.

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References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Outsourcing
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Outsourcing
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=outsourcing