In a ________, a company designs and constructs a facility abroad, trains local personnel, and then transfers the facility to local management for a fee.
A) franchise
B) management contract
C) turnkey operation
D) contract manufacturing agreement

Question

Quizplus · Accepted Answer

A turnkey operation involves a company designing and constructing a facility abroad, training local personnel, and then transferring the facility to local management for a fee. The local management then takes over the operation of the facility. This allows the company to enter new markets without having to manage the ongoing operations of the facility.

In a ________, a Company Designs and Constructs a Facility