When Wal-Mart signed an agreement with Citic, a Chinese utilities and financial group, so the retail giant could open new stores in China, it was an example of a _____ because both companies would own the new retail venture.

Question

Quizplus · Accepted Answer

A joint venture occurs when two or more parties come together to undertake a specific business project, in this case, opening new stores in China, with both parties sharing ownership, returns, risks, and governance.

When Wal-Mart Signed an Agreement with Citic, a Chinese Utilities