OUTSOURCING Outsourcing is a process of contracting out a business process, which an organization may have previously performed internally or which

the company deems necessary or important, to an independent organization, where the process is purchased as a service. Often the task that are outsourced can be performed by the company itself, but in many cases there are financial advantages that come from outsourcing. Many large companies now outsource jobs such as call centers, e-mail services, and payroll. These jobs are handled by separate companies that specialize in these services, and are often located overseas. The main reason behind outsourcing is to save money. MANAGEMENT CONSULTING Management consulting is a practice of helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external advice and access to the consultant specialized expertise.