Simply put, outsourcing is getting a job done from somewhere outside the firm. For example, an US firm getting a job done from Bangladesh is outsourcing. Why do firms resort to outsourcing? The reasons are many. The most important reason is cost reduction. The same job done in the US is likely to cost five to ten times more than it will cost if done in Bangladesh. The US firm may have to start a new department, invest in man and material, face management hassles, and so on. To avoid all these and reduce cost at the same time the most effect way out is outsourcing.
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Bangladesh Outsourcing Network