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A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach.
The term financial business partnering is used to describe finance executives working alongside various business departments including operations, human resources, sales and marketing, among others, providing financial information, tools, analysis and insight, which allows companies to make more informed decisions while driving business ...
One example of a business partnership is the "Agility Alliance" originated by Electronic Data Systems. [2] Members of this IT-focused alliance include Microsoft, Oracle Corporation, Sun Microsystems and SAP. This highlights two problems with multi-party partnerships:
In a partnership, the company is owned by the general partners and, if applicable, limited partners. General partners make the call on how the daily operations run. In a corporation, the company ...
According to the prevailing approach, a consortium is a form of cooperation, different from a civil law partnership, undertaken between economically independent entities already operating on the market in order to implement a specific undertaking that is a segment of the regular activities of these entities, based on an unnamed contract and ...
In order to ensure effective partnership, it is imperative to focus on empowering community members, promoting co-decision making, and safeguarding against one group dominating the conversations and decision-making (and therefore dominating the "partnership"). In this way, equal and truly collaborative partnerships can be promoted.