A global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company foreign company and a local firm invest together to create a local business, it is referred to as
A)licensing.
B)joint venture.
C)direct exporting.
D)local assembly.
E)local manufacturing.

Question

Quizplus · Accepted Answer

Joint venture is a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company. Licensing involves granting permission to a company in another country to produce and sell products or services, while direct exporting involves selling products or services directly to customers in another country. Local assembly and local manufacturing involve setting up production facilities in another country.

A Global Market-Entry Strategy in Which a Foreign Company and a Local