Which of the following describes offshoring?

Offshoring is accurately described as relocating operations to another geographical area, typically involving the transfer of business processes or production to a different country, often one with lower labor costs or favorable business conditions. This strategy is employed by companies seeking to reduce operational expenses or access specialized expertise not readily available in their home country.

Engaging in offshoring allows organizations to benefit from cost savings, increased efficiency, and in some cases, expanded access to new markets. Unlike the other options presented, which either involve keeping operations domestic or expanding into new markets without necessarily relocating the existing operational base, offshoring specifically denotes the act of moving particular business functions overseas. This distinct focus on geographical relocation is essential in understanding the strategic implications of offshoring in global business operations.