3.1.

Theoretical Framework in order to adapt to the market In nowadays the companies are faced with a fast moving environment in which they face uncertainty, A way to counterattack is through joint vetures.
A joint venture is a strategic alliance between two or more individuals or entities to engage in a specific project or undertaking.

Joint ventures are equity or ownership alliances that usually result in the formation of a separate corporate entity jointly run under a different name. (Harvey S. James, Jr. Murray Weidenbaum, When Businesses Cross International Borders, Strategic Alliances and Their Alternatives pp 89) International Joint Ventures are used as an alternative to wholly owned subsidiaries in order to gain competitive advantage not only at a multidomestic, but also at a global level.(Porter & Fuller 1986; Harrigan 1988). The three main JVs analyzed are with experienced partners, that bring benefits to Nestl. The three main joint ventures of Nestle are equity joint ventures with equal ownership.(Morschett pp 281) These joint ventures are comprehensive alliances, because all tjhree are characterized by a high degree of collaboration. (Morschett, pp.281).