Licensing, Franchising, and Management Contracts Are All Forms of International

question 44

Essay

Licensing, franchising, and management contracts are all forms of international business activity. Using examples, briefly define each form. What are the advantages and disadvantages of using these forms of activity?

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Definitions:

Environmental Change

Alterations in the climate, ecosystems, and conditions of the earth, resulting from natural phenomena or human activities.

Management Tool

A management tool comprises systems, strategies, or software utilized by organizations to improve efficiency, facilitate decision-making, and support the achievement of business objectives.

Environmental Analysis

The process of evaluating the environmental factors that can impact an organization's operations and performance.

Social Entrepreneurship

The practice of developing, funding, and implementing solutions to social, cultural, or environmental issues.