In a joint venture, a firm benefits from a local partner’s knowledge o

QUESTION

In a joint venture, a firm benefits from a local partner’s knowledge of the host country’s competitive conditions, culture, language, political systems, and business systems

Indicate whether the statement is true or false.

ANSWER

TRUE
A joint venture entails establishing a firm that is jointly owned by two or more otherwise independent firms. A firm in a joint venture benefits from a local partner’s knowledge of the host country’s competitive conditions, culture, language, political systems, and business systems.