Management Glossary

  Search Results: offshoring
The transfer of business functions that were formally or, in other companies, are normally done within the company's domestic operations to another country. Typically the transfer is to an independent company that does the work on a contract basis, but it could be to an out-of-country subsidiary of the same company. Offshoring is usually done in order to reduce costs by having the functions carried out in countries with lower labor costs, but there may be other reasons, such as taking advantage.
Contributed by: Managerwise Staff
See: outsourcing, nearshoring

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