EveningStar Inc.and The Luxur Group have together established The Luxur Star Group of hotels.EveningStar owns 49 percent and The Luxur Group has a 51 percent share in The Luxur Star Group of hotels.However,the management of The Luxur Star Group of hotels is separate from its parent companies.What alliance type does this scenario best illustrate?

Question

Quizplus · Accepted Answer

The scenario best illustrates a joint venture. A joint venture (JV) is a stand-alone organization created and jointly owned by two or more parent companies.