Difference between revisions of "Outsourcing"
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According to the [[Corporate Strategy by Lynch (4th edition)]], | According to the [[Corporate Strategy by Lynch (4th edition)]], | ||
:[[Outsourcing]]. The decision by an organization to buy in products or services from outside, rather than make them inside the organization. | :[[Outsourcing]]. The decision by an organization to buy in products or services from outside, rather than make them inside the organization. | ||
| + | According to the [[Strategic Management by Parnell (4th edition)]], | ||
| + | :[[Outsourcing]]. Contracting out a firm's noncore, non-revenue-producing activities to other organizations primarily to reduce costs. | ||
| − | [[Category: Accounting]][[Category:Articles]][[Category: Strategic Management]] | + | [[Category: Accounting]][[Category:Articles]][[Category: Strategic Management]][[Category: Strategic Management]] |
Revision as of 11:15, 12 July 2020
Outsourcing is process of purchasing goods and services from outside vendors rather than producing the same goods or providing the same services within the organization.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Outsourcing. Process of purchasing goods and services from outside vendors rather than producing the same goods or providing the same services within the organization.
According to the Corporate Strategy by Lynch (4th edition),
- Outsourcing. The decision by an organization to buy in products or services from outside, rather than make them inside the organization.
According to the Strategic Management by Parnell (4th edition),
- Outsourcing. Contracting out a firm's noncore, non-revenue-producing activities to other organizations primarily to reduce costs.
