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

a. it is uneconomical for the firm to achieve the needed economies of scope on its own initiative

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

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

d. the firm has no prior experience with diversification

e. it has not built up a hoard of cash with which to finance a diversification effort