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.
Which Synonym Should You Choose?
Word | Description / Examples |
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offshoring |
This term is used when a company moves some of its business processes to another country to reduce costs or take advantage of various benefits, such as lower labor costs or favorable economic conditions.
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outsourcing |
This word is used when a company hires an outside organization to handle specific business activities or services that could be done internally, regardless of whether the external firm is in the same country or abroad.
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offshore outsourcing |
This phrase is used specifically when a company hires an external organization in another country to handle certain business functions or services. It emphasizes the engagement of a third-party service provider.
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offshore relocation |
This term is generally used to describe the physical moving of business operations or entire facilities to another country. It often refers to more significant shifts than just outsourcing certain services.
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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.
Which Synonym Should You Choose?
Word | Description / Examples |
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offshoring |
Same as the previous description, typically used interchangeably with 'offshoring'.
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outsource overseas |
When a company hires a third-party provider located in another country to perform certain business tasks or services.
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relocate offshore |
Specifically moving entire business operations or departments to another country, generally used in a broader and more formal context.
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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
Etymology
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.