When companies contract their work to other companies and individuals to save money it is called _____________.

employment

No worries! We‘ve got your back. Try BYJU‘S free classes today!

outsourcing

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

contracting

No worries! We‘ve got your back. Try BYJU‘S free classes today!

insourcing

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B outsourcing
Outsourcing, refers to the contracting of specific business tasks such as payroll, human resource or accounting to any third service provider company so that company can focus mainly on its core activities. Usually Outsourcing is implemented as a cost saving measure.

Suggest Corrections

Similar questions

A sum of money paid regularly (typically annually) by a company to its shareholders out of its profits (or reserves) is called __________.

Three companies are bidding on a contract. Company A is twice as likely to win as Company B, and Company B is three times as likely to win as Company C. What is the probability of company A winning the contract?

Q. A husband and wife have a right to each others company. This right is called ______________.

Q. The insurance company undertakes to insures the life of a person in exchange for a sum of money called the .

The insurance company undertakes to insures the life of a person in exchange for a sum of money called the __________.

Join BYJU'S Learning Program