Hiring an External Vendor to Provide Services That You Cannot

question 15

Short Answer

Hiring an external vendor to provide services that you cannot perform with in-house personnel is known as ________.

---

Definitions:

Toshiba

Toshiba is a diversified Japanese multinational conglomerate that operates in various sectors including electronics, industrial, and energy systems.

Lease

A contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for periodic payments.

Opportunity Cost

The worth of the best alternative given up due to making a decision.

Opportunity Cost

The value of the next best alternative that is foregone when making a choice.