Explain replication strategies and harvesting and how they differ.
What will be an ideal response?
Franchising and licensing are called replication strategies, because they are ways to obtain money from a business by letting other people copy, or replicate, it.
Another method of obtaining money from a business is to harvest it. Harvesting means the company has been sold, taken public, or merged with a larger company.
Harvesting differs from replication in that the entrepreneur is no longer involved once the business is harvested, but walks away with a chunk of the business's value as cash or stock.
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