Franchising Is a Form of Business Organization in Which a Firm

question 45

True/False

Franchising is a form of business organization in which a firm that already has a successful product or service licenses its trademark and method of doing business to other businesses in exchange for an initial franchise fee and an ongoing royalty.

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Definitions:

Utilitarianism Rule

A principle in ethics stating that the best action is the one that maximizes utility, often defined in terms of the wellbeing of sentient entities.

MARS Model

A framework describing four factors—Motivation, Ability, Role perceptions, and Situational factors—that affect individual behavior and performance.

Individual Behavior

Actions, mannerisms, and reactions of a single person, influenced by their environment, personality, emotions, and values.

Performance

is the act of carrying out or accomplishing an action, task, or function effectively.