One of the world's most-recognizable franchisers is McDonald's. Advantages of franchising in global markets include: a. the lack of any long-term commitments in the business arrangement.
b. a guarantee of a specific level of quality.
c. tight control needed to realize experience curve or location economies.
d. forgoing the development costs and risks associated with opening up a foreign market.

d. forgoing the development costs and risks associated with opening up a foreign market.

Explanation:

Franchise is a license consisting of a contractual arrangement between a parent company and another, that allows individuals or an organization access to its knowledge, processes, trademarks in order to provide a service.

One of the world's most-recognizable franchisers is McDonald's. Advantages of franchising in global markets include forgoing the development costs and risks associated with opening up a foreign market.

This ultimately implies that, franchisers such as McDonald do not require additional capital and development expenses to have their businesses being situated in a foreign market or country, as they only required to issue licenses to franchisors who are interested in being part of their business by paying a fee.