A corporate strategy to reduce production costs is to lower labor costs. One publicly unfavorable way is to move all or part of the company's operations overseas and use third-world labor to minimize cost. This is referred to as:

Question

Brittany Brennan

Business

14 September, 01:34

A corporate strategy to reduce production costs is to lower labor costs. One publicly unfavorable way is to move all or part of the company's operations overseas and use third-world labor to minimize cost. This is referred to as:

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Answers (1)

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Isai Welch · Answer 1

Offshoring

Explanation:

Offshoring is the term which is sated as moving of the operations of the business or company to the another country for reasons like more favorable economic conditions and lower cost of labor in that country.

So, the strategy which is used by companies in order to reduce the production cost and move the operations of overseas in order to minimize the cost is called as the offshoring.