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Survival and Growth of the Firm

The trend towards globalization has greatly increased the need for
strong interorganizational relationships to ensure a firm's growth and
survival. As globalization has placed firms under ever greater
competitive stresses, companies are forced to become as efficient as
possible in all aspects of their business. One concept that has
gained popularity is that of core competency: those things that a firm
does especially well and that give it competitive advantage. When
firms stray from their core competencies, problems often result.
To allow companies to focus on their core competencies, outsourcing
has gained in popularity. First, outsourcing reduces the need for a
company to focus on an area that is not as critical to its success as
other areas are. Second, the firm may not be able to perform a
noncore function as effectively or as cheaply as a firm specializing
in that area. Third, the ability to identify which function......

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Approximate Word Count: 1174
Approximate Pages: 5 (250 words per double-spaced page)

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