technology past 10 years
Economics question: What are the main reasons why US outsources production abroad?
how would you say these reasons have changed in the past 10 years?
definition of outsourcing:
Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company.[1] The decision to outsource is often made in the interest of lowering firm costs, redirecting or conserving energy directed at the competencies of a particular business, or to make more efficient use of land, labor, capital, (information) technology and resources. Outsourcing became part of the business lexicon during the 1980s.
Because it is cheaper. why do you think?
We did not want to outsource our production. We wanted to make the stuff here and keep the jobs here. But one of our competitors did it and could sell stuff for cheaper than we could make it for. So we had to do the same to survive. We still do design here and sales.
phototechedu Day 30: Imaging optics for the next decade
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