The productivity of the company’s work depends on setting priorities.
In today’s knowledge-driven market, the need for highly efficient, specialized expertise and objective advice drives demand for professional services firms. Rapid innovation, strategic operation, and technology are critical to finding avenues for growth. Staying focused on the bottom-line is the key to success.
In recent years, buying in at least one support function is a growing trend for businesses. Buying in services (outsourcing) has become customary in the business world. The main idea is focusing on the basic activities and giving other activities, if they are necessary for preparing the company’s product/providing the service, to the skilled professionals of that field. “Do what you can do best – outsource the rest.”
The possibility of outsourcing (buying in a service) is also considered and used in such critical fields as top-level management, human resource management (HRM) and customer service.
Outsourcing is the contracting out of a business process, which an organization may have previously performed internally or has a new need for, to an independent organization from which the process is purchased back as a service. Though the practice of purchasing a business function—instead of providing it internally—is a common feature of any modern economy, the term outsourcing became popular in America near the turn of the 21st century.