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Outsourcing decision

Outsourcing decision

Q List and describe at least three factors that a firm should consider when making an outsourcing decision.

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Outsourcing is a practice of hiring another party outside a company in order to perform services and manufacture goods that conventionally were performed in-house by the company’s own employees. Both big and small firms compel to outsource their business functions. These firms either choose to outsource most of their functions or just a handful of them in order to focus on core business aspects. In both cases, they need to consider some key factors that follow: