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Franchisor
Franchising is based on a marketing concept which can be adopted by an organization as a strategy for business expansion. Where implemented, a franchisor licenses some or all of its know-how, procedures, intellectual property, use of its business model, brand, and rights to sell its branded products and services to a franchisee. In return, the franchisee pays certain fees and agrees to comply with certain obligations, typically set out in a franchise agreement. The word ''franchise'' is of Anglo-French derivation—from , meaning 'free'—and is used both as a noun and as a (transitive) verb. For the franchisor, use of a franchise system is an alternative business growth strategy, compared to expansion through corporate owned outlets or "chain stores". Adopting a franchise system business growth strategy for the sale and distribution of goods and services minimizes the franchisor's capital investment and liability risk. Franchising is rarely an equal partnership, especially in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Market Entry Modes
For international trade, Foreign market entry modes are the ways in which a company can expand its services into a non-domestic market. There are two major types of market entry modes: equity and non-equity. The non-equity modes category includes export and contractual agreements. The equity modes category includes joint ventures and wholly owned subsidiaries. Different entry modes differ in three crucial aspects: * The degree of risk they present. * The control and commitment of resources they require. * The return on investment they promise. Exporting Exporting is the process of selling of goods and services produced in one country to other countries. There are two types of exporting: direct and indirect. Direct Exports Passive exports represent the treating and filling overseas orders like domestic orders. Types ;Sales representatives: Sales representatives represent foreign suppliers/manufacturers in their local markets for an established commission on sales. Provide su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Model
A business model describes how an organization creates, delivers, and captures value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. The process of business model construction and modification is also called ''business model innovation'' and forms a part of business strategy. In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture. Context The literature has provided very diverse interpretations and definitions of a business model. A systematic review and analysis of manager responses to a survey defines business models ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royalties
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.Guidelines for Evaluation of Transfer of Technology Agreements, United Nations, New York, 1979 A royalty interest is the right to collect a stream of future royalty payments. A license agreement defines the terms under which a resource or property are licensed by one party to another, either without restriction or subject to a limitation on term, business or geographic territory, type of product, etc. License agreements can be regulated, particularly where a government is the resource owner, or they can be private contracts that follow a general structure. However, certain types of franchise agreements have comparable provisions. N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McDonalds In Moncton
McDonald's Corporation is an American multinational fast food chain, founded in 1940 as a restaurant operated by Richard and Maurice McDonald, in San Bernardino, California, United States. They rechristened their business as a hamburger stand, and later turned the company into a franchise, with the Golden Arches logo being introduced in 1953 at a location in Phoenix, Arizona. In 1955, Ray Kroc, a businessman, joined the company as a franchise agent and proceeded to purchase the chain from the McDonald brothers. McDonald's had its previous headquarters in Oak Brook, Illinois, but moved its global headquarters to Chicago in June 2018. McDonald's is the world's largest restaurant chain by revenue, serving over 69 million customers daily in over 100 countries in more than 40,000 outlets as of 2021. McDonald's is best known for its hamburgers, cheeseburgers and french fries, although their menus include other items like chicken, fish, fruit, and salads. Their most well-kn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Know-how
Know-how (or knowhow, or procedural knowledge) is a term for practical knowledge on how to accomplish something, as opposed to "know-what" (facts), "know-why" (science), or "know-who" (communication). It is also often referred to as street smarts (sometimes conceived as the opposite of book smarts), and a person employing their street smarts as ''street wise''. Know-how is often tacit knowledge, which means that it can be difficult to transfer to another person by means of writing it down or verbalising it. The opposite of tacit knowledge is explicit knowledge. Industrial know-how In the context of industrial property (now generally viewed as intellectual property or IP), know-how is a component in the transfer of technology in national and international environments, co-existing with or separate from other IP rights such as patents, trademarks and copyright and is an economic asset. When it is transferred by itself, know-how should be converted into a trade secret before transf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Remuneration
Remuneration is the pay or other financial compensation provided in exchange for an employee's ''services performed'' (not to be confused with giving (away), or donating, or the act of providing to). A number of complementary benefits in addition to pay are increasingly popular remuneration mechanisms. Remuneration is one component of reward management. In the UK it can also refer to the automatic division of profits attributable to members in a Limited Liability Partnership (LLP). Types Remuneration can include: * Commission *Employee benefits *Employee stock ownership *Executive compensation ** Deferred compensation *Salary **Performance-linked incentives *Wage * Mandatory compensation payable by an employer to an employee for the benefit obtained from a patent for an invention made by an employee United States For wage withholding purposes under U.S. income tax law, the term "wage" means remuneration (with certain exceptions) for services performed by an employee for an empl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Advertising
Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a specific good or service, but there are wide range of uses, the most common being the commercial advertisement. Commercial advertisements often seek to generate increased consumption of their products or services through "branding", which associates a product name or image with certain qualities in the minds of consumers. On the other hand, ads that intend to elicit an immediate sale are known as direct-response advertising. Non-commercial entities that advertise more than consumer products or services include political parties, interest groups, religious organizations and governmental agencies. Non-profit organizations may use free modes of persuasion, such as a public service announcement. Advertising may also help to reassure employees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Training
Training is teaching, or developing in oneself or others, any skills and knowledge or Physical fitness, fitness that relate to specific practicality, useful Competence (human resources), competencies. Training has specific goals of improving one's wikt:capability, capability, capacity, productivity and wikt:performance, performance. It forms the core of apprenticeships and provides the backbone of content at institute of technology, institutes of technology (also known as technical colleges or polytechnics). In addition to the basic training required for a Trade (profession), trade, Employment, occupation or profession, training may continue beyond initial competence to maintain, upgrade and update skills throughout career, working life. People within some professions and occupations may refer to this sort of training as professional development. Training also refers to the development of physical fitness related to a specific competence, such as sport, martial arts, military app ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Venture Capital
Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have demonstrated high growth (in terms of number of employees, annual revenue, scale of operations, etc). Venture capital firms or funds invest in these early-stage companies in exchange for equity, or an ownership stake. Venture capitalists take on the risk of financing risky start-ups in the hopes that some of the firms they support will become successful. Because startups face high uncertainty, VC investments have high rates of failure. The start-ups are usually based on an innovative technology or business model and they are usually from high technology industries, such as information technology (IT), clean technology or biotechnology. The typical venture capital investment occurs after an initial "seed funding" round. The first ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pizza Hut
Pizza Hut is an American multinational restaurant chain and international franchise founded in 1958 in Wichita, Kansas by Dan and Frank Carney. They serve their signature pan pizza and other dishes including pasta, breadsticks and dessert at dine-in, take-out and delivery chain locations. They also serve chicken wings on their WingStreet menu. The chain headquartered in Plano, Texas, operates 17,639 restaurants worldwide as of 2020, making it the world's largest pizza chain by number of locations. It is owned by Yum! Brands, Inc., one of the world's largest restaurant companies. History Pizza Hut began on May 31, 1958, by two brothers, Dan and Frank Carney, both Wichita State students, as a single location in Wichita, Kansas. The now famous little brick building was close to their childhood home and stomping grounds. The Carney brothers grew up in the College Hill neighborhood amongst many life long Wichita families where tree-lined streets were filled with historical home ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-trust Legislation
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warranty
In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract",Hogg M. (2011). ''Promises and Contract Law: Comparative Perspectives''p. 48 Cambridge University Press. and (2) which only entitles the innocent party to damages if it is breached: i.e. the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty. A warranty is not a guarantee. It is a mere promise. It may be enforced if it is breached by an award for the legal remedy of damages. A warranty is a term of a contract. Depending on the terms of the contract, a product warranty may cover a product such that a manufacturer provides a warranty to a consumer with which the manufacturer has no direct contractual relationship. A warranty may be express or implied. An express warranty is expressly stated (typically, written); whether or not a term will be implied int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
