Franchising manifests a bundle of risks created by the delegation of functions as both franchisor and franchisee exploit their respective comparative advantage. The galvanization of this advantage is governed by the franchise agreement and optimized by the effectiveness of the governance...

This chapter is a descriptive and exploratory study of the challenges and opportunities faced by franchisors in adapting their franchise systems to accommodate cultural diversity among franchisees. It uses literature on migrant entrepreneurs and cultural diversity in small business settings in...