Originally Published September 1999

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

Carol Nast

Among medical technology companies, the universal need to identify business drivers and develop strategic business plans often results in remarkable uniformity across the industry. It is not uncommon for companies to target the same market opportunities with only slight variations in technical approach.

One of the many tactical approaches a company can use to differentiate itself in this environment is to leverage its resources and capabilities by outsourcing. Recently identified by the Harvard Business Review as one of the most important management practices of the past 75 years, outsourcing is one of the most readily available initiatives that a company can undertake—and often among the most poorly executed. Knowing when, why, and how to outsource is essential for today's executive.