Offshoring: meaning, definitions and examples
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offshoring
[ ˈɔːfʃɔːrɪŋ ]
business process outsourcing
Offshoring refers to the practice of moving business processes or services to a foreign country, often to reduce costs or take advantage of specific resources or expertise available in that location.
Synonyms
offshore outsourcing, offshore relocation, outsourcing
Examples of usage
- Many companies engage in offshoring to benefit from lower labor costs in other countries.
- Offshoring has become a common strategy for companies looking to remain competitive in the global market.
transferring business operations overseas
To offshore a business operation means to transfer it to a foreign country, typically to achieve cost savings or access to specialized skills not available locally.
Synonyms
outsource overseas, relocate offshore
Examples of usage
- The company decided to offshore its customer service department to India.
- Offshoring has become a controversial practice due to its impact on local job markets.
Translations
Translations of the word "offshoring" in other languages:
🇵🇹 deslocalização de empresas
🇮🇳 ऑफशोरिंग
🇩🇪 Offshoring
🇮🇩 offshoring
🇺🇦 офшоринг
🇵🇱 offshoring
🇯🇵 オフショアリング
🇫🇷 délocalisation
🇪🇸 deslocalización
🇹🇷 offshoring
🇰🇷 오프쇼어링
🇸🇦 نقل الأعمال إلى الخارج
🇨🇿 offshoring
🇸🇰 offshoring
🇨🇳 离岸外包
🇸🇮 offshoring
🇮🇸 útvistun
🇰🇿 офшоринг
🇬🇪 ოფშორინგი
🇦🇿 offshoring
🇲🇽 deslocalización
Word origin
The term 'offshoring' originated in the late 20th century as globalization and advancements in technology made it easier for companies to operate across borders. It became popular in the context of outsourcing and cost-saving measures, but has also faced criticism for its impact on domestic employment. The practice of offshoring continues to evolve as businesses seek to optimize their operations in a globalized economy.