Outsourcing — Chapter Summary
ICSE · Class 12 · Business Studies
Summary of Outsourcing for ICSE Class 12 Business Studies. Part of the ICSE Class 12 Business Studies syllabus.
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Overview
Outsourcing is a new trend in business. It means contracting out certain business functions and processes to an outside agency or third party so that the organisation can use the outside agency’s expertise and experience. The chapter also covers the main parties involved, the advantages and disadvan
Key Concepts
Outsourcing means contracting out certain business
Outsourcing means contracting out certain business functions and processes to an outside agency or third party. It is used to benefit from outside exp
Outsourcing involves the outsourced
Outsourcing involves the outsourced, the outsourcer, and the service provider. The outsourced is the external agency that agrees to perform certain fu
Outsourcing can bring cheaper services
Outsourcing can bring cheaper services, better quality through specialisation, and higher efficiency for the users. For the outsourced, benefits inclu
Business Process Outsourcing is the delegation
Business Process Outsourcing is the delegation of one or more IT enabled business processes to a third party that owns, administers, and manages the p
BPO involves contracting out
BPO involves contracting out, usually of non-core processes, to a third party. Sometimes a large multinational may set up a captive unit for core acti
Learning Objectives
- Understand the meaning of outsourcing and its basic idea
- Identify the three parties involved in outsourcing
- Explain the advantages and disadvantages of outsourcing for each party
- Differentiate between BPO and KPO
- Understand the meaning and importance of Legal Process Outsourcing
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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