What Is the Difference Between "Offshoring" and "Onshoring"? Provide an Example

question 128

Short Answer

What is the difference between "offshoring" and "onshoring"? Provide an example of each.

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Definitions:

Compensation Plan

Describes the payment structure and benefits offered by an employer to its employees, outlining wages, bonuses, and other financial incentives.

Contributions

Efforts, work, or resources provided by individuals or groups towards a common goal or for the benefit of a larger entity.

Job Evaluation

A systematic process used to determine the relative worth or value of a job in comparison to other jobs within an organization.

Market Surveying

The process of gathering, analyzing, and interpreting information about a market, including potential customers and competitors.