Whirlpool took a 53 percent stake in the Dutch electronics group Phillips' home appliances business. Sharing ownership and control of this business enabled Whirlpool to leapfrog into the European market. This is an example of ________.
A) a straight extension
B) a joint venture
C) an exporting agreement
D) a licensing agreement
E) a sprinkler approach

Question

Quizplus · Accepted Answer

Whirlpool and Philips formed a joint venture, which involves sharing ownership and control of a business. This allowed Whirlpool to enter the European market through the acquisition of Philips' home appliance business.

Whirlpool Took a 53 Percent Stake in the Dutch Electronics