Outsourcing

Reversing the ugly trend of outsourcing in Nigeria

Reversing the ugly trend of outsourcing in Nigeria

OUTSOURCING, a word that came from the phrase: “outside resourcing”, became a key part of international business economics in the 1990s. Wikipedia defines it as” an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally and sometimes involves transferring employees and assets from one firm to another”.Sub-contracting is the practice of assigning or outsourcing specific parts of the obligations and tasks under a contract to another party known as a  subcontractor. Outsourcing is prevalent in strong-matrix environments where complex project planning, execution and monitoring are norms. Business processes, people and projects are what companies seek to outsource.