Outsourcing: meaning, definitions and examples
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outsourcing
[ ˈaʊtsɔːsɪŋ ]
business practice
Outsourcing is the practice of hiring an external company to perform services or create goods that were traditionally done in-house. It is often done to reduce costs, improve efficiency, and focus on core business activities.
Synonyms
contracting out, externalization, subcontracting
Examples of usage
- Many companies outsource their customer service to call centers in other countries.
- Outsourcing manufacturing to overseas factories has become a common practice in the modern global economy.
action
To outsource means to contract out a business process or service to another company. It involves transferring some of the workload and responsibilities to an external provider.
Synonyms
delegate, farm out, subcontract
Examples of usage
- The company decided to outsource their IT support to a specialized firm.
- Many startups choose to outsource tasks like marketing and accounting to focus on their core operations.
Translations
Translations of the word "outsourcing" in other languages:
🇵🇹 terceirização
🇮🇳 आउटसोर्सिंग
🇩🇪 Auslagerung
🇮🇩 alih daya
🇺🇦 аутсорсинг
🇵🇱 outsourcing
🇯🇵 アウトソーシング
🇫🇷 externalisation
🇪🇸 subcontratación
🇹🇷 dış kaynak kullanımı
🇰🇷 아웃소싱
🇸🇦 الاستعانة بمصادر خارجية
🇨🇿 outsourcing
🇸🇰 outsourcing
🇨🇳 外包
🇸🇮 zunanje izvajanje
🇮🇸 úthýsing
🇰🇿 аутсорсинг
🇬🇪 აუტსორსინგი
🇦🇿 autsorsinq
🇲🇽 subcontratación
Word origin
The term 'outsourcing' originated in the 1980s as a way to describe the practice of contracting out specific business functions to external service providers. It gained popularity in the following decades as companies sought to streamline operations and reduce costs. The rise of globalization and advances in technology have further facilitated the growth of outsourcing as a common business strategy.