Chapter 1 Offshore outsourcing, its types, benefits and risk categories
1.1 Introduction
Outsourcing is a business agreement in which firms, either national and/or international, make a contract to carry out internal and/or external functions which may be value-added or non-value-added functions to experienced supplier(s) with an aim to gain a competitive advantage (Di Mauro et al. 2018; Uygun et al. 2022). Outsourcing is also defined as the business practice of hiring an outside party to perform the services or to make products. The term outsourcing entered the business dictionary in the 1980s. In the mid-20th century, as businesses grew, more specialized skills were required; companies perceived that external ...
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