Outsource

Definition: Outsourcing is when a company decides to utilize resources outside the company to manage or complete a service or task previously handled in-house. Usuaully, the work goes to a third party, such as a consultant, freelancer or another business to perform the job on the company's behalf. Outsourcing is also used to reference the process of a company sending an entire manufacturing process or call center acitivy overseas (usually to China or India) to be performed. This has a negative connotation to American workesrs who may lose jobs because of outsourcing, but can be seen as a positive to shareholders since it often reduces costs. Outsourcing tasks or segments of business to consultants, on the other hand, is usually viewed favorably.