Final Answer:
South Korean companies like LG and Samsung employ 52,000 workers in the United States, and many U.S. companies now manufacture their products abroad. This is an example of Outsourcing. The correct option is B) Outsourcing.
Step-by-step explanation:
The situation described, where South Korean companies employ workers in the United States while many U.S. companies manufacture their products abroad, exemplifies the concept of outsourcing.
Outsourcing refers to the practice of contracting out certain business functions or processes to external parties. In this context, South Korean companies outsourcing work to the United States and U.S. companies outsourcing manufacturing abroad aligns with the definition of outsourcing.
Outsourcing involves the delegation of specific tasks or operations to external entities, often to take advantage of cost efficiencies, specialized skills, or other strategic benefits. In this scenario, South Korean companies (LG and Samsung) outsourcing jobs to the United States and U.S. companies outsourcing manufacturing overseas illustrate the global nature of modern business practices.
The term insourcing refers to the opposite situation, where tasks are handled internally within a company or domestically.
Offshoring is closely related but specifically involves the relocation of business processes to another country, which is not the primary focus in the given scenario.
Homeshoring typically involves outsourcing tasks to workers who operate from their homes, which is not explicitly mentioned in the context provided. The correct option is B) Outsourcing.