What strategy is frequently used by Otis Elevator when it enters a new foreign market?

Question

Quizplus · Accepted Answer

Otis Elevator frequently uses the strategy of seeking local partners to minimize risks when entering a new foreign market. This allows them to better understand the local culture, market, and regulations, while also reducing the financial and legal risks associated with entering a new market alone. By partnering with a local company, they can also benefit from their established networks and distribution channels.

What Strategy Is Frequently Used by Otis Elevator When It