'outsourcing' - description

outsourcing: Outsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company.[1] The decision to outsource is often made in the interest of lowering firm costs, redirecting or conserving energy directed at the competencies of a particular business, or to make more efficient use of land, labor, capital, (information)technology and resources. Outsourcing became part of the business lexicon during the 1980s.
Source: Wikipedia (http://en.wikipedia.org/wiki/Outsourcing)