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Outsourcing - Emerging Modes of Business Video Lecture | Business Studies (BST) Class 11 - Commerce

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FAQs on Outsourcing - Emerging Modes of Business Video Lecture - Business Studies (BST) Class 11 - Commerce

1. What is outsourcing and why do businesses use it?
Ans. Outsourcing is the practice of hiring a third-party company or individual to perform specific tasks or services for a business. Businesses use outsourcing to reduce costs, increase efficiency, access specialized skills or technology, and focus on their core competencies.
2. What are the different modes of business commerce emerging in outsourcing?
Ans. The article discusses three emerging modes of business commerce in outsourcing: crowdsourcing, cloud computing, and business process outsourcing (BPO). Crowdsourcing involves obtaining services or solutions from a large group of people, often through online platforms. Cloud computing refers to the use of remote servers to store, manage, and process data. BPO involves contracting a third-party provider to handle specific business processes.
3. How does crowdsourcing benefit businesses in outsourcing?
Ans. Crowdsourcing benefits businesses in outsourcing by providing access to a diverse pool of talent and expertise. It allows businesses to tap into a global network of individuals who can contribute to tasks such as problem-solving, content creation, or idea generation. Crowdsourcing also offers scalability, cost-effectiveness, and faster turnaround times for projects.
4. What advantages does cloud computing offer in the context of outsourcing?
Ans. Cloud computing offers several advantages in the context of outsourcing. It enables businesses to access and utilize computing resources on-demand, reducing the need for expensive infrastructure and hardware investments. Cloud-based outsourcing also provides flexibility, scalability, and improved data security. Additionally, it allows for easier collaboration and remote access to data and applications.
5. How does business process outsourcing (BPO) contribute to the growth of outsourcing?
Ans. Business process outsourcing (BPO) contributes to the growth of outsourcing by enabling businesses to delegate non-core processes to specialized service providers. This allows companies to focus on their core competencies and strategic initiatives while benefiting from cost savings, improved efficiency, and access to specialized skills. BPO also provides opportunities for global expansion, as businesses can leverage the expertise and resources of providers in different regions.
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