Ronald is planning to expand his family business internationally and is currently in the process of purchasing materials, manufacturing components, and locating business services around the world. Which of the following best describes his actions?

Question

Quizplus · Accepted Answer

Ronald is engaging in global sourcing, which involves seeking out and purchasing materials and services from around the world to support a business's operations. This is distinct from outsourcing, which involves delegating certain tasks or services to external providers, and from insourcing, which involves handling tasks or services internally within the company. Licensing and franchising involve different forms of business expansion and do not apply to Ronald's current actions.

Ronald Is Planning to Expand His Family Business Internationally and Is