entity

Person, partnership, organization, or business unit which has a legal existence, for which accounting records are kept, and about which financial statements are prepared.

Outsourcing will continue to grow in popularity over the long term. As transaction costs approach (but never reach) zero, every entity benefits by focusing on their core competencies; that is, whatever they do relatively best. This is analogous to countries which are trading partners and import and export goods based on which goods are cheaper or more expensive for them on a relative basis.