Outsourcing

[aʊtˈsɔːs]
Definition:

Outsourcing is a practice in which organizations hire a third party to perform a set of tasks; this could include: booking, recruitment full cycle, data entry, social media management and many more; most third party suppliers are specialists in the service they provide.

This practice was seen as a business strategy in 1989 and eventually became part of business economics in the 1990s. Outsourcing is believed to be a business incentive and growth strategy for many organizations.

 

Part of speech:
verb
Synonyms:
temporary
part-time
impermanent
freelance
Use in a sentence:
There can be no question of outsourcing components from other countries
Outsourcing