An American construction company wants to bid on a job in Saudi Arabia. It has found that it will need to join operations with an Arabic construction company if it wants to gain local support among those people who will be determining who gets the construction job. The American company will need to enter into a _____ with the Arabic company.

Question

Quizplus · Accepted Answer

A joint venture is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task, in this case, a construction job. This structure is often used for international projects to combine local knowledge with foreign expertise.

An American Construction Company Wants to Bid on a Job