Externalization
(noun)
- The act of making something external, or bringing it outside of a system or organization.
- The process of making something visible, tangible or explicit.
- The transfer or outsourcing of internal processes or functions to external entities.
Origin:
Derived from the latin word 'externus' meaning outside or external and the suffix '-ization' meaning the act or process of making something.
Examples:
- The externalization of the company's IT infrastructure allowed for more efficient management and reduced costs.
- The externalization of mental health struggles can help individuals find support and understanding.
- The externalization of supply chain management allowed the company to focus on its core competencies.
- The externalization of manufacturing operations allowed the company to tap into global resources and expertise.
- The externalization of environmental impact and sustainability considerations was critical for responsible corporate decision-making.