Organizations (typically nonprofit) that are formed by firms in the same industry to collect and disseminate trade information, offer legal and technical advice, furnish industry-related training, and provide a platform for collective lobbying are called:
A) strategic alliances
B) trade associations
C) networks
D) joint ventures
E) consortia

Question

Quizplus · Accepted Answer

Trade associations are specifically formed by firms in the same industry to collectively work towards the betterment of the industry as a whole. They often have goals such as sharing information and best practices, providing industry-specific training, and lobbying for industry-specific regulations. The other answer choices may apply to different types of organizations or collaborations between companies, but do not fit the specific definition of a trade association.

Organizations (Typically Nonprofit) That Are Formed by Firms in the Same