Quote of the day: “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.”

Archimedes

Simplified Ages Breakdown

Rephrasing one of my Internet Marketing Mentors Alex Jeffreys’ presentation slides that went like this:
Agricultural age
Industrial age
Informational age

I took the liberty of adding the following:

Lever – age

According to Oxford Dictionary:

Lever

- a rigid bar resting on a pivot, used to move a heavy or firmly fixed load with one end when pressure is applied to the other
- a projecting arm or handle that is moved to operate a mechanism a control lever
- a means of pressurizing someone into doing something

According to Oxford Dictionary:

Leverage

1. the exertion of force by means of a lever
- mechanical advantage gained by leverage
- the power to influence a person or situation
2. 1) [with obj] 1) [usu. as adj.] (leveraged) use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable
2) use (something) to maximum advantage the organization needs to leverage its key resources

According to Oxford Business & Management Dictionary:

Outsourcing -

- The buying in of components, sub-assemblies, finished products, and services from outside suppliers rather than by supplying them internally. A firm may decide to buy in rather than supply internally because it lacks the expertise, investment capital, or physical space required to do so. It may also be able to buy in more cheaply or more quickly than manufacturing in-house…
- In certain instances, computer, legal, and personnel services have been outsourced as well as the more traditional manufactured components.

According to internetmarketingdefinitions.com

Out-task [Out-tasking – AD]

Often used along with outsource, out-tasking is different from outsourcing in that out-tasking is usually done on a smaller scale and for a shorter period. A one-time project would be considered out-tasking rather than outsourcing.

For some reason people tend to believe that they are using one when in real fact they are using another. The answer is quite simple – THEY ARE VERY SIMILAR. Yet, there are inherent differences in-between the two.

Out-tasking – a fixed set of instructions, or tasks that should be completed to certain specifications by someone else

Outsourcing – is rather seen as a higher level of understanding and/or trust in the source outside of the company to take over the responsibility to develop and produce the necessary product according to your defined specifications

In other words, outsourcing is possible with a company or an individual you believe to be professional enough to relieve you of the necessity to be checking on their progress every so often, effectively granting you the freedom to think strategically and leaving all the details and the actual plan of their job to the outsource. These subtleties could really make or break your long-term otherwise productive relationship with your business partners
So it is of paramount importance just to make sure that speaking of outsourcing and out-tasking both sides really mean the same thing. As long is there is a mutual understanding as concerns the real definitions of these two ubiquitous terms you are all set for a mutually beneficial business realtionship.