When a company globalises, it tries to choose the best method to enter its overseas markets. Match the methods below to the definitions. Use a good dictionary, such as the Longman Business English Dictionary, to help you. 1 acquisition 2 joint venture 3 consortium 4 franchising 5 licensing

Explanation:

When a company globalises, it tries to choose the best method to enter its overseas markets. Match the methods below to the definitions.

1 acquisition

An acquisition is when one company purchases most or all of another company's shares to gain control of that company. This is achieved by purchasing more than 50% of a target firm's stock and other assets.

2 Joint Venture

A joint venture (JV) is a business arrangement in which two or more companies agree to combine their resources for the purpose of accomplishing a specific business purpose.

3 Consortium

A consortium is an association of two or more companies, with the objective of participating in a common activity or for achieving a common goal.

4 Franchising

Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion.

It refers to a situation where an already established business gives permission to another company in another place to sell its products or services.

5 Licensing

A business arrangement in which one company gives another company permission to manufacture its product for a specified payment.

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