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As per Wikipedia the concept of Outsourcing dates back to atleast1980 so it is at least3 decades old
IT IS AN OLD CONCEPT BUT DEVELOPED NOW A DAYS WITH MORE EFFECTIVE TOOLS
TRUE & FALSE... as usual, it depends!
As several fellows explained, Outsourcing is a quite old practice, but it has been evolving over time. Lots of tasks can be externalized: from building cleaning or security, to Finance or HR functions, plus even core functions. I have read several articles where examples are made about external CFO or highly technical workers for punctual tasks.
Finally, there are still hundreds of companies that have not started with outsourcing, either not believing in the concept, or being too small to hire other companies. Thus, there is a long path to grow!!
False
Since the Industrial Revolution, companies have grappled with how they can exploit their competitive advantage to increase their markets and their profits. The model for most of the20th century was a large integrated company that can “own, manage, and directly control” its assets. In the1950s and1960s, the rallying cry was diversification to broaden corporate bases and take advantage of economies of scale. By diversifying, companies expected to protect profits, even though expansion required multiple layers of management. Subsequently, organizations attempting to compete globally in the1970s and1980s were handicapped by a lack of agility that resulted from bloated management structures. To increase their flexibility and creativity, many large companies developed a new strategy of focusing on their core business, which required identifying critical processes and deciding which could be outsourced.
TRUE .........................................
