If a service firm wants to build a global presence quickly and at a relatively low cost and risk,_____ makes sense.

Question

Quizplus · Accepted Answer

Franchising is a low-risk and cost-effective way to quickly expand a service firm's global presence. Franchising allows the service firm to license its brand, intellectual property, and business model to local entrepreneurs who then open and operate their own franchise locations, using the service firm's established systems and procedures. This allows the service firm to expand globally without the need for significant investment in infrastructure or personnel.

If a Service Firm Wants to Build a Global Presence