Final answer:
In-sourcing is the process by which a company brings functions or services that were previously outsourced or offshored back within its own operations.
Step-by-step explanation:
In-sourcing refers to the strategic decision made by a business to bring various services or functions back-in-house. It is a reverse process compared to outsourcing or offshoring, where a company would hire outside contractors, sometimes abroad, to perform tasks it used to do internally or would move its own operations overseas to access cheaper labor markets, respectively. In-sourcing involves a company bringing back these tasks and operations within its own organizational structures, potentially due to a variety of reasons including cost savings, improved control over processes, or a response to economic and political pressures.