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Benefits of Joint Ventures

Joint ventures offer the following benefits:

1. Joint ventures save financial outlays for both the parties and lower the costs.
2. Joint Ventures increase sales and provide production-cost savings.
3. Joint ventures provide speedy channel acceptance and, thus, reduce marketing costs.
4. Joint ventures maintain independence of both the companies.
5. It reduces competition between two companies.
6. It reduces risk of business failure because of managerial efficiency.
7. It provides synergical benefits to small organizations who combine three resources together.
8. Collaboration with foreign companies provides advanced technical know-how to the company.
9. Foreign collaboration facilitates purchase of foreign equipments (imports).
10.It enlarges the scope of operations and reduces the costs of production and marketing.
11. Multinational corporations can enter the developing countries though joint ventures than establishing subsidiaries there.

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