A turn-key project is best defined as:
A) a method of doing business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners
B) giving a foreign manufacturer the right to use a patent in return for the payment of a royalty
C) a method in which an entrepreneur contracts his or her management techniques and skills to a (foreign) purchasing company
D) a form of direct foreign investment in which the investing entrepreneur holds a minority ownership position in the foreign venture

Question

A turn-key project is best defined as: 
A) a method of doing business whereby a foreign entrepreneur supplies the manufacturing technology or infrastructure for a business and then turns it over to local owners
B) giving a foreign manufacturer the right to use a patent in return for the payment of a royalty
C) a method in which an entrepreneur contracts his or her management techniques and skills to a (foreign) purchasing company
D) a form of direct foreign investment in which the investing entrepreneur holds a minority ownership position in the foreign venture

Quizplus · Accepted Answer

A turn-key project is a method of doing business whereby a foreign entrepreneur supplies the entire infrastructure needed for a business, including the manufacturing process, and hands it over to local owners once it is operational. The local owners then take responsibility for operating and managing the business. This type of project is often used in international business, particularly in developing countries, where local expertise may be lacking, and can involve a variety of industries, such as construction, telecommunications, and engineering.

A Turn-Key Project Is Best Defined As