​'A company hires regular service(s) from external sources, mostly from other countries, which were previously provided internally or from within the country'. This business practice is known as: ​

Correct option is D

• Outsourcing ​is a business practice where organizations contract third-party providers (often from abroad) to handle specific business tasks or services instead of doing them internally.
• The primary goal is often cost reduction, access to global expertise, and improved efficiency.
• A company previously provided certain services internally (within the organization or the country itself).
• Now, it is hiring external sources, mostly from other countries, to perform those services on a regular basis.

Information Booster:

• Globalisation: Refers to the process of increasing interconnectedness and interdependence of economies, cultures, and businesses on a global scale. While outsourcing is facilitated by globalization, it is not the same thing.
• Privatisation: Involves transferring ownership of a business or service from the government to private entities. This is unrelated to hiring external services.
• Liberalisation: Refers to the removal or relaxation of government restrictions on business and trade. While it may promote outsourcing, it does not define the practice described in the question.