Question

Ropalique is a popular clothing brand in the country Wesabania. The company wants to expand its market and decides to establish itself in the country Tristonville. To accomplish this, Ropalique collaborates with a local clothing brand called Vestinx in Tristonville and provides resources and trademark rights to Vestinx. This enables Vestinx to produce and market Ropalique's products. In the context of strategies for entering the international arena, Ropalique is most likely using _____.

Answer 1

Answer:

Joint ventures

Explanation:

joint venture is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. By collaborating with Vestinx which is local to the new market that Ropalique wants to storm, a joint venture is being established.

Answer 2

Answer: Joint Ventures

Explanation: Joint Ventures from the name implies the formation or creation of a business coalition by two or more companies or organization by contributing required resources needed to accomplish a specific goal.

In the scenario above, Ropalique collaborates with vestinx to establish a clothing company in Tristonville where vestinx is located. Vestinx does the production and marketing of Ropalique's product which provides resources and trademark rights required for production. This marks a classical example of a joint venture which businesses might employ as a result of foreign policy, taking advantage of both businesses area of expertise or specialization.