What is outsourcing?A.The lowering of domestic wagesB.Selling goods abroadC.Having work done abroadD.The use of ISO containers

Understanding Outsourcing

Outsourcing refers to the practice where businesses contract out certain services or functions to external providers, often in different countries. This strategy is commonly utilized to reduce costs, improve efficiency, or enable the organization to focus on its core competencies.

Evaluating the Options

1. A. The lowering of domestic wages: This option implies that wages decrease as a result of outsourcing, which might not accurately define outsourcing itself.

2. B. Selling goods abroad: Selling goods abroad relates more to international trade rather than outsourcing.

3. C. Having work done abroad: This option directly aligns with the concept of outsourcing, as it involves delegating tasks or services to external entities, often located in another country.

4. D. The use of ISO containers: This pertains to shipping and logistics, which are relevant but do not define outsourcing.

Conclusion

Among the provided options, C. Having work done abroad is the correct definition of outsourcing. This encompasses the essence of outsourcing—delegating tasks to foreign service providers to capitalize on cost efficiencies and specialized skill sets.