Which of the following refers to engaging in the international division of labor so as to obtain the cheapest sources of labor and supplies regardless of country?
A) Franchising
B) Licensing
C) Market entry strategy
D) Outsourcing
E) Activity

Question

Quizplus · Accepted Answer

Outsourcing involves the delegation of non-core operations to another company or a third-party organization, typically to access cheaper labor, raw materials, or other supplies. It may involve moving production or services to a foreign country with a more favorable labor market or externalizing certain business processes to achieve cost savings. Therefore, outsourcing refers to engaging in the international division of labor to obtain the most economical sources of labor and supplies, regardless of the country. Franchising and licensing, on the other hand, are about expanding business operations by granting permission to another party to use proprietary information, trademarked products, or services of the franchisor or licensor. Market entry strategy and activity are broader terms that may encompass various methods of entering and operating in a foreign market, including but not limited to outsourcing.

Which of the Following Refers to Engaging in the International