A joint venture is an attractive way for a company to enter a new industry when: Select one: a. The firm has no prior experience with diversification. by. The firm needs access to economies of scope and good financial fits in order to be cost-competitive. c. The firm does not have cash with which to finance a diversification effort. d. A firm is missing some essential skills or capabilities or resources and needs a partner to supply the missing expertise and competencies or fill the resource gaps.

Question

Business

Armani Newman

9 December, 14:12

A joint venture is an attractive way for a company to enter a new industry when: Select one: a. The firm has no prior experience with diversification. by. The firm needs access to economies of scope and good financial fits in order to be cost-competitive. c. The firm does not have cash with which to finance a diversification effort. d. A firm is missing some essential skills or capabilities or resources and needs a partner to supply the missing expertise and competencies or fill the resource gaps.

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Jack Weeks · Answer 1

d. A firm is missing some essential skills or capabilities or resources and needs a partner to supply the missing expertise and competencies or fill the resource gaps.

Explanation:

When two or more firms dealing in the same type of business comes in a contract to enter in the new market because one firm is not able to achieve its targeted sales so for that the company wants to fill those resource gaps which benefited both the company to accomplish its goals and objectives

As to achieve the organization objectives, the work should be done efficiently so that there should not be any problem arise which results in failure of those objectives. That's why the joint venture is necessary