A joint venture is an attractive way for a company to enter a new industry when: Select one: 

a. The firm has no prior experience with in diversification. 

b. The firm needs access to economies of scope and good financial fits in order to be cost-competitive. 

c.The firm does not have cash with which to finance a diversification effort. 

d. A firm is missing some essential skills or capabilities resources and needs a partner to supply the missing expertise and competencies or fill the resource gaps