Final answer:
Franchising is the business model that requires a firm to provide a specialized sales or service strategy, support, and possibly an initial investment in return for periodic fees, which includes an initial franchise fee and ongoing royalty fees.
Step-by-step explanation:
The correct answer is d. Franchising. This business model obligates a firm to provide a specialized sales or service strategy, support assistance, and possibly an initial investment in exchange for periodic fees. A franchise involves purchasing the rights to start a business based on a model designed by the franchisor. In return, the franchisee typically pays an initial franchise fee and ongoing royalty fees.
Examples of franchises include well-known fast food restaurants like McDonald's. Franchise agreements often include training, supply chain support, and assistance in setting up operations, which help ensure consistency and quality across various locations.