business-partnerships

Vocabulary Word

Definition

'Business-partnerships' involve two or more people or companies working together to run a business. It's like when a group of friends decide to start a band together, but instead of making music, they create a business.

Examples in Different Contexts

In supply chain management, 'business partnerships' are crucial for ensuring a smooth flow of goods and services. A supply chain manager might explain, 'Through our business partnership with local suppliers, we've significantly reduced delivery times and costs.'

Practice Scenarios

Academics

Scenario:

Our students are struggling with remote learning. Could forming a partnership with an ed-tech firm offer a more interactive and effective e-learning environment?

Response:

Forming a business partnership with a leading ed-tech company can certainly provide our students with a more enriched e-learning experience.

Business

Scenario:

This online store has really taken off, but delivering products globally remains a challenge. Do we know any shipping companies that we could potentially partner with?

Response:

That's a great idea. A business partnership with a reliable shipping service can definitely solve our delivery issues.