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__________ means that each employee is held accountable to only one supervisor.
Joint Venture
A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.
Licensing
An agreement whereby a licensee obtains the rights to use the licensed property of a licensor under specified conditions, often seen in software, franchise businesses, and intellectual property.
Local Market
A market within a specific geographical area where goods and services are exchanged within the local community.
Globalization
The process of interaction and integration among people, companies, and governments worldwide, largely driven by international trade and investment and aided by information technology.
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