Which of the following 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 refers to the practice of moving business operations from a country where the company is headquartered to a country where labor costs are lower but the necessary skills are available. This is often done to save costs and increase profitability.

Which of the Following Best Describes Offshoring