what are the services of outsourcing class 11 answer
What are the services of outsourcing for Class 11?
Answer: Outsourcing refers to the practice where a company hires external firms to perform tasks, handle operations, or provide services that are typically done within the company. In the context of Class 11 Business Studies, here are the services commonly associated with outsourcing:
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Information Technology (IT): Many businesses outsource their IT services to specialized firms, including maintenance of servers, development and management of software applications, and providing technical support.
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Human Resources (HR): Recruitment, payroll processing, and employee training are often outsourced to agencies specializing in human resource management.
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Customer Support: Companies outsource call centers or customer service operations to efficiently handle inquiries, complaints, and support-related issues.
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Finance and Accounting: Outsourcing firms manage bookkeeping, accounts payable/receivable, tax preparation, and other financial services.
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Manufacturing: Companies might outsource production to countries where labor costs are lower, allowing them to focus on design and marketing.
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Logistics and Supply Chain: Shipping, warehousing, and distribution services can be outsourced to companies specializing in supply chain management.
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Marketing: Digital marketing, advertising campaigns, and market research are frequently outsourced to agencies with expertise in these areas.
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Legal Services: Certain legal services, such as contract drafting and compliance work, are outsourced to law firms.
Summary: Outsourcing involves hiring external companies to handle various services like IT, HR, customer support, and more, to improve efficiency and reduce costs. This allows businesses to focus on core activities by leveraging the expertise of specialized firms.