Outsourcing
Outsourcing is « an agreement in which one company hires another company to be responsible for an existing internal activity. » It often involves the contracting of a business process ( payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center support. Outsourcing sometimes involves transferring employees and assets from one firm to another. Outsourcing is also the practice of handing over control of public services to private enterprise.