Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as

(a) Licensing

(b) Franchising

(c) Contract manufacturing

(d) Joint venture

It is under contract manufacturing that a firm outsources the production of its goods and services to foreign firms and concentrates on marketing operations in international business. On the other hand, in the licensing and franchising models, a company grants intellectual property rights to a foreign firm, and in a joint venture, two or more firms pool their resources to launch a new business enterprise.

Hence, the correct answer is option (c).

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