This master thesis describes outsourcing and offshoring on a theoretical basis. The diploma thesis offers the principles companies should follow when making decisions about outsourcing and offshoring, their implementation, and their use in the business process. It describes the risks and disadvantages of outsourcing and offshoring in comparison with their advantages. The thesis describes the reasons why outsourcing and offshoring are popular even now and fairly used. It analyses the possibility of using outsourcing and offshoring as the cost reducers and provides evidence using the actual market prices to answer the question, whether it is achievable to reduce the costs by implementing outsourcing or offshoring.Tato diplomová práce popisuje...