Outsourcing is the practice of having an external party take over some business and/or manufacturing processes. How does outsourcing change a firm’s cost structure and, therefore, its ability to be...

Outsourcing is the practice of having an external party take over some business and/or manufacturing processes. How does outsourcing change a firm’s cost structure and, therefore, its ability to be nimble in responding to competition? What are some long-term costs and benefits of outsourcing?