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
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