Outsourcing Flashcards
1
Q
What is meant by Outsourcing?
A
When a business uses a third party to carry out tasks or provide services which the business has previously done in-house.
2
Q
What are some examples that a business may outsource?
A
HR Tasks
Legal Services
Catering
Cleaning
3
Q
What are the advantages of Outsourcing?
A
Potential cost savings, such as lower payroll
Staff time freed up for core operations
No need to comply with certain regulations and legislations.
4
Q
What are the disadvantages of Outsourcing?
A
Data security - Access to confidential data
Lower staff morale - Redundancies
Delay in delivery of outsourced items - Location - could disrupt supply
