An example of a________ is New United Motor Manufacturing Inc.(NUMMI),the collaboration between Toyota and GM.Toyota needed direct access to the U.S.market,while GM benefited from the technology and management approaches provided by its Japanese partner.
A)strategic alliance
B)joint venture
C)licensing agreement
D)management contract
E)turnkey operation

Question

Quizplus · Accepted Answer

NUMMI is an example of a joint venture where two or more companies commit to a legally-binding agreement to share resources, technology, and profits to achieve a common goal. In this case, Toyota and GM formed a new company to produce vehicles together in the United States, leveraging each other's strengths and expertise.

An Example of A________ Is New United Motor Manufacturing Inc