Part 1

Part 1

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  • Sounds interesting. What is a joint venture and  what are the benefits?
  • Hey, I would like to offer you a business proposition. A joint venture! I think we both can benefit greatly from this. 
  • A joint venture is a business arrangement in which parties agree to pool their resources for the purpose of accomplishing a specific task. 
  • This task can be a new project or any other business activity.
  • Two companies coming together to work towards the same goal sounds like it could work. What are some examples?
  • Parties enter into joint venture contracts in order to combine strengths and increase competitive advantage while minimizing risk
  • Oh, so like how in  2011, Ford and Toyota agreed to work together to develop hybrid trucks. 
  • There was a 2008 joint venture launched by NBC Universal Television Group , Fox Broadcasting Company , and Disney-ABC to create Hulu.  
  • This was an example of a  large scale partnering of companies that has been very profitable. 
  • Joint ventures also Help the parties to save money in operating, marketing, and advertising costs and time
  • Exactly! Joint Ventures have multiple benefits as they enables the parties to offer their customers new products and services
  • and one of the best parts about joint ventures is the lack of long term commitment 
  • So heres my plan, You have a theme park and I have a movie theater if we can combine these elements we can create a joint venture
  • This sounds like a great idea that will enable us to enter new industries and increase profits
  • Parents can drop their kids off in the theme park and then go to watch a movie. This will benefit both parties tremendously
  • This sounds like a great idea. This joint venture can revolutionize both of our businesses
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