Outsourcing

Out­sourc­ing is a prac­tice of hir­ing a par­ty out­side a com­pa­ny to per­form ser­vices and cre­ate goods that were tra­di­tion­al­ly per­formed in-house by the com­pa­ny’s own employ­ees and staff. Out­sourc­ing can hap­pen in a trans­ac­tion­al or col­lab­o­ra­tive relationship.