Difference between revisions of "Franchise"
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Franchise]]. A right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn. | :[[Franchise]]. A right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn. | ||
| + | According to the [[Corporate Strategy by Lynch (4th edition)]], | ||
| + | :[[Franchise]]. A form of co-operative strategy in which a firm (the franchisor) develops a business concept and then offers this to others (the franchisees) in the form of a contractual relationship to use the business concept. Typically, the franchisee obtains a tried-and-tested business formula in return for paying a percentage of its sales and agreeing to tight controls from the franchisor over the product range, pricing, etc. | ||
==Related concepts== | ==Related concepts== | ||
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*[[Principles of Accounting]]. | *[[Principles of Accounting]]. | ||
| − | [[Category: International Accounting]][[Category: Articles]] | + | [[Category: International Accounting]][[Category: Articles]][[Category: Strategic Management]] |
Latest revision as of 17:11, 10 July 2020
Franchise is a right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Franchise. A right granted by a business or government to produce or sell goods in a specific geographic region. Examples are Burger King and Holiday Inn.
According to the Corporate Strategy by Lynch (4th edition),
- Franchise. A form of co-operative strategy in which a firm (the franchisor) develops a business concept and then offers this to others (the franchisees) in the form of a contractual relationship to use the business concept. Typically, the franchisee obtains a tried-and-tested business formula in return for paying a percentage of its sales and agreeing to tight controls from the franchisor over the product range, pricing, etc.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
