Business and finance help: What is the difference between these three terms?

Business & Finance
Tutor: None Selected Time limit: 1 Day

What is the difference between these three terms?

Offshoring, reshoring and outsourcing
 Please be specific in your responses and cite your answers.
 
Feel free to use examples.
Nov 8th, 2015

Thank you for the opportunity to help you with your question!

Offshoring is the relocation of business process from one country to another typically an operational process, such as manufacturing  or supporting process such as accounting .Typically this refers to a company business although state government also employ offshoring. Some UK bank like Llyods bank has offshreing branches.to some other places.

Restoring is the practice off bringing outsourced personnel and service back to the location from which they were originally offshore drilling.The mission of restoring initiative is to bring good, well paying manufacturing jobs back to the country.

Outsourcing is also the practice of handling over public services to for profit corporations..Outsourcing includes both foreign and domestic contracting sometimes includes offshoring (relocating a business fraction to another country's),example...Amazon company USA out source some jobs to India, similarly some software company also does like Microsoft company, in this way they can save some revenue to the company

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 8th, 2015

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