4.2.4

Cards (7)

what is a joint venture?
a seperate business entity created by two or more parties, involving a shared ownership, returns and risks
benefits of a joint venture 
access into new market
benefit from eachothers expertise
shared risks and costs
notm tied in forever
cultrual insights
drawbacks of a joint venture 
potential loss of intellectual property
risk of clashing
may imbalance in expertise
objectives of each may change
may just fail
reasons for a joint venture 
spreading risks
entering new markets/ trading blocs
aquiring new brand names/patents
securing resourcers/suppliers
maintaining/ increasing global competitivness
how can global competitivness be improved?
competitive advantage (low cost— differenciation)
exchange rates
impacts of a skills shortage on international competitivness  
unabe to find labour workers with required skills
cost leadership difficult to achieve if workers lack skills
less likely for product differenciation to occur
how can a business resolve the impact of skills shortage on international competitivnessuse offshoring and outsourcing