Turnkey projects refer to:
A) A non-equity mode of entry used to build a longer-term presence
B) Efforts among a number of firms to jointly market their products and services
C) Projects in which clients pay contractors to design and construct new facilities and train personnel
D) Outsourcing agreements in R D firms

Question

Quizplus · Accepted Answer

Turnkey projects are projects in which clients pay contractors to design and construct new facilities and train personnel. The contractor is responsible for the entire project from start to finish, and once completed, the client simply needs to "turn the key" to begin using the facility. This type of project is often used in industries such as construction, energy, and manufacturing. Turnkey projects are projects where clients pay a contractor to design, construct, and often even train personnel for a new facility or system, essentially providing them with a fully functional "turnkey" product. Option A refers to a mode of entry for foreign markets, while option B describes joint marketing efforts between firms. Option D is a vague description that does not specifically relate to turnkey projects.

Turnkey Projects Refer To