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  2. Outsourcing is the process of contracting a business function or any specific business activity to specialized agencies. Mostly, the non-core areas such as sanitation, security, household, pantry, etc are outsourced by the company. The company makes a formal agreement with the agency. The agency then sends the manpower required to the company.

  3. Apr 16, 2024 · Economics Class 12. Indian Economic Development. Chapter 3 IED Liberalisation, Privatisation And Globalisation. What is Outsourcing? Last updated at April 16, 2024 by Teachoo. In Outsourcing, A Company hires regular service from Outside countries. instead of taking service internally from within the company or from within the country. Example.

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  4. 30K views 2 years ago Class 12 Economics (New Session 2023-24) Indian Economic Development | Complete CBSE Course | All Chapters Available.

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  5. Outsourcing means giving work to an outside agency to improve efficiency and reduce costs. When outsourcing involves transferring work to overseas locations, it is described by the term off shoring, although both off-shoring and outsourcing are used together.

  6. Business Process Outsourcing, popularly known as BPO, is the business strategy where one company hires another company to perform a certain task for them, i.e. they outsource a certain job.

  7. (ii) outsourcing, and, (iii) inter-nationalisation and globalisation. You will read about international business in Chapter 11. In this chapter, we will be familiarising you with the first two developments, i.e., digitisation (a term from electronics) of business — also referred to as electronic business (e-business), and Business Process

  8. Jan 18, 2024 · Geography Class 12 Notes Chapter 7 Tertiary and Quaternary Activities. Types of Tertiary Activities. There are four types of tertiary activities. They are trade, transport, communication and services. These include provision of services in exchange of payments. Trade and commerce is essentially buying and selling of items produced elsewhere.