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Offshoring
Offshoring is the relocation of a business process from one country to another—typically an operational process, such as manufacturing, or supporting processes, such as accounting. Usually this refers to a company business, although state governments may also employ offshoring. More recently, technical and administrative services have been offshored. Offshoring neither implies nor precludes involving a different company to be responsible for a business process. Therefore, offshoring should not be confused with outsourcing which does imply one company relying on another. In practice, the concepts can be intertwined, i.e offshore outsourcing, and can be individually or jointly, partially or completely reversed, as described by terms such as reshoring, inshoring, and insourcing. In-house offshoring is when the offshored work is done by means of an internal (captive) delivery model. Imported services from subsidiaries or other closely related suppliers are included, whereas in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Outsourcing
Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981 at a time when industrial jobs in the United States were being moved overseas, contributing to the economic and cultural collapse of small, industrial towns. In some contexts, the term smartsourcing is also used. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting out of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises ( privatiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Offshore Outsourcing
Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981 at a time when industrial jobs in the United States were being moved overseas, contributing to the economic and cultural collapse of small, industrial towns. In some contexts, the term smartsourcing is also used. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting out of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises (privatization) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nearshoring
Nearshoring is the outsourcing of business processes, especially information technology processes, to companies in a nearby country, often sharing a border with the target country. Both parties expect to benefit from one or more of the following dimensions of proximity: geographic, temporal (time zone), cultural, social, linguistic, economic, political, or historical linkages. Nearshoring is a type of outsourcing where a given company seeks a development partner in a different country or region. However, what distinguishes nearshoring from other types of outsourcing is the fact that the development partner is still in close proximity. Since companies are usually in the same time zone, this facilitates communication and allows for frequent visits. Overview Offshoring involves relocating work to a foreign organization to reduce costs, but challenges include time differences, local labor laws, and reduced oversight. For example, a Western European IT company may outsource software ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Physical Restructuring
Manufacturing companies often refer to their manufacturing plant transfer, consolidation and closure activities as physical restructuring. This can be done by moving production or services overseas, a process known as offshoring. Such projects began in the United States during the 1960s and by 2009 showed little sign of having ended. Such corporate behavior has taken its toll on the manufacturing base and continues to do so. Chrysler planned a phase of physical restructuring with the sale of its "good assets" to Fiat in 2009. Pfizer has executed numerous physical restructuring programs in the years prior to 2009, as a direct result of changes in the drug pipeline and an outdated and inefficient manufacturing and distribution network. General Motors announced a large wave of physical restructuring associated with their June 2009 bankruptcy filing. While the sell-off of assets is necessary in cases of bankruptcy, the costs associated with physical restructuring need to be managed by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernst & Young
EY, previously known as Ernst & Young, is a multinational corporation, multinational professional services partnership, network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms, Big Four accounting firms. The EY network is composed of member firms of Ernst & Young Global Limited, a UK company Company limited by guarantee, limited by guarantee. EY is one of the largest professional services networks in the world. It primarily provides assurance services, assurance, tax, Information technology, information technology services (including managed services in areas like Cybersecurity, Cloud computing, Cloud, Digital transformation, Digital Transformation and Artificial intelligence, AI), management consulting, consulting, and Corporate services, advisory services to its clients. Ernst & Young Global Limited operates as a network of member firms which are structured as separate legal entities in a partnership, which has 395 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by Paul Reuter. The Thomson Corporation of Canada acquired the agency in a 2008 corporate merger, resulting in the formation of the Thomson Reuters Corporation. In December 2024, Reuters was ranked as the 27th most visited news site in the world, with over 105 million monthly readers. History 19th century Paul Julius Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions of 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
