Kwok Winn Wants to Open a New Business in His

question 20

Multiple Choice

Kwok Winn wants to open a new business in his own country, Singapore. He has decided on a form of licensing that will provide him with a standard package of products, systems, and management services in order to sell fast food to local residents. Which of the following best describes the form of business that Mr. Winn has chosen?

• A) Direct sales
• B) Indirect exporting
• C) Joint venture
• D) Strategic alliance
• E) Franchising

Grasp how implicit favorites and satisficing play into decision strategies.

Understand the role and basis of intuition in decision-making.

Comprehend the emotional aspects of decision-making and preference formation.

Acknowledge the significance of knowledge, experience, and the need for social approval in creativity and decision-making.

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Definitions:

Lignite

A soft brownish coal showing traces of plant structure, intermediate between bituminous coal and peat.

Sulfuric Acid

A highly corrosive strong mineral acid with molecular formula H2SO4, widely used in industry.

Runoff

Water from rain, snowmelt, or other sources that flows over the land surface and is not absorbed into the ground, potentially carrying pollutants to bodies of water.

Underground Mine

A type of mine where natural resources, like minerals or ores, are extracted from beneath the Earth's surface through tunnels or shafts.