Question

It is one of the important outcomes of the globalization process
1. Outsourcing
2. Industrialization
3. Disinvestment
4. None of the above

Answer 1

Correct Answer - Option 1 : Outsourcing

The correct answer is Outsourcing.

• Outsourcing
  • This is one of the principal results of the globalization method. Hence, Option 1 is correct.
  • In outsourcing, a company recruits regular service from the outside sources, often from other nations, that was earlier implemented internally or from within the nation (like computer service, legal advice, security, each presented by individual departments of the corporation, and advertisement).
  • As a kind of economic venture, outsourcing has increased, in recent times, because of the increase in quick methods of communication, especially the growth of information technology (IT).
  • Many of the services such as voice-based business processes (commonly known as BPS, BPO, or call centers), accountancy, record keeping, music recording, banking services, book transcription, film editing, clinical advice, or teachers are being outsourced by the companies from the advanced countries to India.

• Industrialization
  • It is the process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods.
  • Individual manual labor is often replaced by mechanized mass production, and craftsmen are replaced by assembly lines.
• Disinvestment
  • It is the action of an organization or government selling or liquidating an asset or subsidiary.