“Outsourcing”, is an organizational practice that involves the transfer of an organizational function to a third party. An organization decides to outsource in the interest of lowering costs, conserving energy among other factors.
Outsourcing does not end with the transition of services to the outsourcing vendor. In order to realize the benefits of outsourcing which is to improve the bottom line and streamline business processes, it is essential that outsourcing is done well.
As the world becomes more global and different markets and forces interact, outsourcing is and will continue to play a key role in the global market. It is important to understand and identify how outsourcing will if any help an organization become profitable in the global market.