The Cross Border Commerce : With Biblical Worldview Applications

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With the aid of the Cross Border Commerce: With Biblical Worldview Applications (2014) textbook, the objective of this paper is to define licensing and franchising, as well as expand the gained knowledge of the textbook reading. Licensing and franchising is an indirect form of exporting that entails the exporting of technology by companies (Satterlee, 2014). Furthermore, a licensor is the faction giving the license, whereas the licensee is the faction that utilizes the license (Satterlee, 2014). However, franchising substantiates as a substitute to licensing (Satterlee, 2014) depending on the preference of the corporation. Also, the following articles are applied to gain a further understanding of licensing and franchising: “Analyzing Foreign Market Entry Strategies: Extending the Internalization Approach” by Buckley and Casson (1988); “Contractibility, Strategy, and Network Dynamics: From Franchising to Licensing” by Leitmannslehner and Windsperger (2012); “Foreign Market Entry Strategy” by Michalski (2015); “Strategies for Business Format Franchisors to Expand into Global Markets” by Preble and Hoffman (2006); and “Inward-Outward Connections in Internationalization” by Welch and Luostarinen (1993). Keywords: licensing, franchising, strategy Key Term and Why You Are Interested in It I chose the key concept of licensing and franchising because I believe this concept is a crucial player in international business. I seek to expand upon the written explanation that
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