Which statement best describes offshoring?
A) It is the practice of having another company provide services.
B) It refers to moving operations from the country where a company is headquartered to a country where pay rates are lower but the necessary skills are available.
C) It is a method of staffing other than the traditional hiring of full-time employees.
D) It is a complete review of the organization's critical work processes to make them more efficient and able to deliver higher quality of products and services.
E) It refers to acquiring a new company in a distant location or another country in order to acquire higher market share or growth.

Question

Quizplus · Accepted Answer

Offshoring is the practice of relocating a company's business process from one country to another, usually with the intention of reducing costs and taking advantage of lower labor costs in the new location. It often involves moving operations from a higher-cost country to a lower-cost one where the necessary skills are available, such as manufacturing or call center services.

Which Statement Best Describes Offshoring