In the context of foreign market entry, a is a business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective without forming a separate legal entity. a) franchising arrangement b) consortium arrangement c) direct sales d) group joint venture e) strategic international alliance

d) group joint venture

Explanation:

By doing a joint venture the firms will split the risk for entering the foreing market. Also, they can benefit from the other competitie advantage making the possible business a better deal than simply going alone. The main activities and other product of each firm remain separated, only for this particular market the firm will offer and benefit for the same product. They will also only be liable for the ammount invested in the joint venture which is another good point.

answer; institution based;