________ Is the Process of Hiring Another Organization to Perform

question 25

Multiple Choice

________ is the process of hiring another organization to perform a service.

• A) Merging
• B) Outsourcing
• C) Headhunting
• D) Diversifying

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Definitions:

Economies of Scale

Cost advantages that businesses obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Benefits Package

A collection of non-wage compensations provided to employees in addition to their salaries or wages. These can include health insurance, pension plans, and vacation time.

Mandatory Benefits

Compulsory employment advantages prescribed by law that an employer must provide to employees, such as social security, workers' compensation, and leave entitlements.

Employment Assistance Programs

Workplace initiatives designed to help employees deal with personal problems that might adversely affect their job performance, health, and well-being.