The buying services from a third party to manage a firm's functions is known as
A) asset efficiency.
B) diversification of supplies.
C) importing.
D) outsourcing.

Question

Quizplus · Accepted Answer

Outsourcing involves buying services from a third party to manage a firm's functions. This can be a cost-effective way for a company to access specialized skills or technologies without having to invest in developing them in-house. Other options listed (asset efficiency, diversification of supplies, importing) do not specifically relate to the practice of outsourcing.

The Buying Services from a Third Party to Manage a Firm's