Offshoring

Part of speech: noun

Definitions

1. The practice of moving company tasks, such as manufacturing or services, to another nation to reduce costs or access specialized skills
2. Transferring parts of a business’s work or production overseas to take advantage of cheaper labor or other economic benefits
3. Shifting organizational activities abroad to lower expenses or improve efficiency through utilizing resources in different countries

Etymology: Offshoring is a modern coinage built from a very old pair of words. "Off" and "shore" each have deep roots: "shore" descends from Old English "scora" through Middle English "schore", and it is related to the Proto-Germanic word for a steep bank or cliff. The compound "offshore" combines "off" with "shore" to mean something lying away from the coast, out at sea. The noun "offshoring" is the -ing form of the verb "offshore", and its meaning is a figurative leap from the sea to the factory floor. Sending work abroad was once described with the same spatial sense: a task moved "offshore" was moved out beyond one's own borders, just as a ship lies out beyond the coastline. Over time the word lost its nautical flavour and came to describe the relocation of business activity to another country.

Synonyms: outsourcing, relocation, transfer, displacement