Outsourcing
Outsourcing can be defined as a task or process or function which is performed , maintained and even the results are executed by the employees within a company but is instead it will be done on a contract basis with the help of external vendor who will be a party and this contract or outsource will be for a specified period of time between the company and the vendor. There is a strategy named as offshore efficiency ring where all the functions of internal resources will be executed operational by the external resources which will help the company to gain some benefits in various departments like manpower, financial department etc. In this outsourcing, a third-party vendor who will become a valuable business partner can work either off-site or on-site. the REASONS FOR CHOOSING OUTSOURCE: ->The main reason for this strategy is to save huge amounts of money and time which are very crucial for the success of any company. ->Concentrate on main areas of business which is core to tha