Outsourcing

Outsourcing is the strategic use of outside resources to perform activities traditionally handled by internal staff and resources. Small business owners can outsource non-core functions to specialized and efficient service providers. It is required of businesses to hire special contractors for particular types of work or to meet the demands put forth by sudden spurts in the workload. Recently, the trend of partnering with firms whose capabilities complement their own giving them an access to resources that were beyond their individual reach has come up. The difference between simply subcontracting and outsourcing is that outsourcing involves the wholesale restructuring of the corporation around core competencies and outside relationships.

As a consequence, has emerged a new class of skilled entrepreneurs