Answer :
"The foreign firm benefits from a local partner's knowledge of the host
country" is an advantage of joint ventures as a mode of entry into foreign markets.
What is foreign markets?
Foreign markets refer to the markets located outside of a specific country's borders, in which buyers and sellers engage in the buying and selling of goods, services, investments, and financial instruments. Foreign markets offer investors the opportunity to diversify their portfolio, as different economies may suffer and benefit differently from global events.
What is joint ventures?
Joint Ventures are business relationships where two or more parties agree to combine their resources (including capital, assets, personnel and knowledge) to create a new business entity or pursue a specific business venture. This arrangement can be structured to provide a mutually beneficial profit-sharing arrangement, or it can be a way for companies to share risk on a particular project.
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