In a strategy known as ________,many new companies locate themselves near competitors and suppliers.

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Clustering is a strategy where companies locate themselves near competitors and suppliers in order to benefit from close proximity, shared knowledge and resources, and increased efficiency. Offshoring is a strategy where companies relocate their operations to another country to take advantage of lower costs. Franchising involves one company (the franchisor) granting another company (the franchisee) the right to use their business model or trademarks in exchange for a fee or royalty. Exporting involves selling goods or services to customers in another country.

In a Strategy Known as ________,Many New Companies Locate Themselves