____ is a popular approach to sharing development and production costs and penetrating new markets.
A) Consortia
B) Licensing
C) Joint ventures
D) Franchising

Question

Quizplus · Accepted Answer

Joint ventures involve two or more companies creating a separate entity to undertake a specific business activity or project. This allows the companies to share the costs and risks involved in the venture, as well as access new markets or resources. Therefore, joint ventures are a popular approach to sharing development and production costs and penetrating new markets. Consortia, licensing, and franchising can also involve cost-sharing and market penetration, but are more specific forms of business arrangements with different characteristics and objectives.

____ Is a Popular Approach to Sharing Development and Production