Outsourcing is made up of two words - 'out' and 'sourcing'.
Sourcing refers to the act of transferring work, responsibilities
and decision rights to some external party. The organization
that transfers its work, responsibilities and decision
rights to some external party is referred to as the 'client'.
The organization that conducts the work and makes decisions
is the 'vendor'. Thescope of the work is called the 'project'. |
