When we process our business elsewhere, either offshoring or on-shoring, we do Business Processing Outsourcing (BPO). We outsource, mostly labor, to normally developing countries because it’s cost effective while getting an extremely satisfying quality of work. We are talented.
We call it Offshoring if we let them handle the operations, while it is on-shoring when you go there to that country to handle the foreign team.
There are a lot of talents to these developing countries but looking for people with good work ethics, are very much committed, with excellent quality of work, and of-course fit for the role, is somehow a challenge. You want people with values such as: integrity, commitment, and excellence.
Outsourcing is really risky, but if you find a good team, you’ll earn a lot. Just like in stocks, the higher the risk, the higher the returns. “Risk is directly proportional to the amount of returns.” – Carlo