OUTSOURCED Meaning and
Definition
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Outsourced is an adjective that refers to the act of contracting or assigning a particular task, work, or function to an external third-party entity, typically a company or individual, rather than keeping it within the internal operations of an organization. It involves the delegation of specific responsibilities or activities to an external provider who specializes in that particular field or service.
When an organization outsources a particular function, it essentially transfers the control, management, and execution of that function to an outside entity. This could be done for various reasons, such as to reduce costs, improve efficiency, access specialized expertise, or focus on core competencies.
The outsourced entity is often selected based on its expertise, track record, or ability to deliver the desired results. Common areas that are frequently outsourced include customer service, IT services, manufacturing, human resources, accounting, and legal services.
Outsourcing allows organizations to leverage external resources, economies of scale, and specialized knowledge not available within the organization. It can offer significant advantages like cost savings, enhanced quality, increased flexibility, and access to advanced technologies or best practices.
However, outsourcing also comes with potential risks, such as loss of control, dependency on external providers, communication challenges, and concerns about the protection of sensitive data. Effective management and clear communication with the outsourced entity are crucial to ensure the successful execution of outsourced tasks and achieve the intended benefits.
Top Common Misspellings for OUTSOURCED *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for OUTSOURCED
Etymology of OUTSOURCED
The term "outsourced" is derived from two words, "out" and "source". "Out" means "away from" or "outside", while "source" refers to the origin or point of supply. Combining these two words, "outsourced" originally meant to obtain goods, services, or labor from an external or outside source. It gained prominence in the business context to describe the practice of contracting or delegating certain tasks or processes to an external organization or third party, often located in a different country or region.
Similar spelling words for OUTSOURCED
Conjugate verb Outsourced
CONDITIONAL
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FUTURE
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FUTURE PERFECT
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