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Outsourcing is a business practice where a company contracts with an external entity to provide a specific service or function, which would otherwise be handled in-house. This practice allows companies to focus on their core competencies while delegating non-core tasks to specialized outsourcing providers.
The concept of outsourcing has its roots in the 1960s and 1970s, when multinational corporations began to
There are several benefits associated with outsourcing, including cost reduction, increased flexibility, and improved efficiency. By
However, outsourcing also carries certain risks, including loss of control and intellectual property exposure. Companies must
The types of services outsourced vary widely, depending on the industry and company needs. Common examples