Answered: Please describe how outsourcing can be…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Please describe how outsourcing can be used for risk transference. Chapter 7, Review question 11 of cenage Management of Infomation security.

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Introduction

Outsourcing is a widely used business strategy that involves delegating certain tasks, functions or processes to external parties rather than handling them in-house. Outsourcing can help organizations reduce costs, increase efficiency, and focus on their core competencies. Additionally, outsourcing can also be used to transfer risks to external service providers, which can help organizations mitigate their exposure to various risks.

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