Exam 2 Study Guide - Exam 2 Study Guide What is a joint...

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Exam 2 Study Guide What is a joint venture? -They allow companies to share risks, costs, profits, and management responsibilities with one or more host country nationals What is an acquisition? -A procedure in which one firm purchases the property and assumes the obligations of another What does a franchisor provide to a franchisee? -Permits the franchisee to sell the products and use its name, as well as providing a variety of marketing, management, and other services in return for the payment of fees and royalties base on sales by the franchisee. What are the responsibilities of a supervisory manager? -Responsible for assigning non-managerial employees to specific jobs and evaluating their performance every day. What are the responsibilities of a top manager? -Work in direct and continuing contact with the employees who produce and sell the firm’s goods and services. -They are also responsible for the middle managers What are the advantages of purchasing an existing business? - Respect already established -Working staff and employees already on board -Finances and relationships with other companies already in place What are the advantages of a franchise?
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