Multinationals use Turnkey as a entry-mode strategy.
- A turnkey project is a technique for a foreign corporation to build a plant in another nation and sell its technology and process there.
- Turnkey projects are typically used as an entry strategy by industrial enterprises that specialise in complicated production technology.
What is a turnkey plan of action?
- The phrase alludes to the fact that a corporate buyer only needs to "turn" a "key" to get things going. Thus, a turnkey firm is one that is already operational and in a state that permits start-up right away.
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