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As these macroeconomic trends unfold, one emerging online industry that is already booming in Asia – and accelerating – is crowdsourcing, a new type of outsourcing (think "outsourcing on steroids") that involves outsourcing tasks, such as logo design, via an open and normally large group of people known as "the crowd".
Outsourcing tasks isn't for everyone.
With money tight, police forces are outsourcing tasks including criminal-case preparation to private firms.
Outsourcing tasks to private companies is supposed to let government reap the benefits of the free market.
Outsourcing tasks to smart products can reduce one's sense of meaning and purpose, says the Meyer Feldberg Professor of Business.
Cash Flow: Solar Power Outsourcing tasks is among the tips suggested by Kasey Navita Phifer for keeping costs low when starting a small business.
China's burgeoning motorbike industry isn't dominated by a handful of corporate behemoths employing thousands of employees, or outsourcing tasks to smaller subcontractors.
Proponents of embodied cognition argue that we reduce the cognitive load on the brain by outsourcing tasks to other parts of our body, and in the related case of distributed cognition, even to external objects.
"There is an increasing pressure by clients to reduce costs and increase efficiency," he added, and with companies already familiar with outsourcing tasks like information technology work to India, legal services is a natural next step.
It is now even economical to perform large-scale "human computation"—essentially outsourcing tasks that a person can perform better than a computer can, such as identifying people in photographs.
Outsourcing tasks to a Chinese contractor is one way to cut costs.
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