Joint venturing additional strategy to improve company

This essay focuses on joint venturing as an additional strategy to improving a company profile and penetration into the market. It also discusses the pros and cons of a joint venture and further about the joint venture agreement that the partners agree to sign, its contents and requirements.


Joint Ventures

The modern business world has to be perfect in its products and services. The combination of technology, use of a combination of trained personnel in a business and the culture of the organization determines the place of an organization in the business industry (Giora, 2006).

The world market is a hub which offers a dynamic environment where every company has to compete against the others for better sales, output and revenues. The strategies that the management endorses determine the overall company turnover. There is a variety of strategies that can be undertaken by an organization to improve the company’s profile for better penetration into the market, increase in the cost of output, and increase the revenues in the shortest time possible.

A successful business has its own determiners. There are tools or strategies that business managers and executives have to employ for the desired returns. There are additions that businesses opt to include for better performance and market breakthrough in the competitive business world. An example is the joint venture. It can either be a local joint venture or an international joint venture. It allows companies to collaborate and work together in pulling the resources for significant growth and development. It further helps the partners to exploit their capabilities jointly for the creation of an environment that is sustainable and competitive in the present global market (Arslan & Zhaohua, 2009).

A joint venture is a strategic tool that involves two or more groups especially those with a common business perspective and ideas that later form a business partnership (Scott, 2013). A joint venture can either be from two existing companies or two new companies that are entering the market. This is more common in the economies that are in transition like China that is attracting other investors that are foreigners (Eric, 2013). The best example of a worldwide known international joint venture is the one done by the Jaguar Land Rover Company in Britain that manufactures the luxurious vehicle with the Cherry Company of China that led to Euros 1.1billion investment (Angela, 2012).

Creation of a business joint venture has no much requirements and procedures. It only requires a joint agreement and some considerations for its creation. They are the responsibility of each partner in the entity, sharing of losses, profits and liabilities together with the proper terms and conditions that they should follow (Scott, 2013).

Some of the advantages that may accrue to both businesses are market sharing diversification of risks, resource sharing, increased technical expertise, access to bigger markets and more business channels, higher bidding power, increased profits and more competitive advantages (Business Gateway, 2013). The detailed information on joint venture advantages is further discussed the accrued advantages include.

  1. Market sharing advantage. The existing market is shared among the two business entities. This creates a wide market for the business and some of the advantages are the increase in the overall returns with reduced competition and the higher number of clients hence a higher purchasing power.
  2. Diversification of risks. This is also the same as minimizing of risks in the business. When the business makes a loss, it is shared among the two parties and therefore the impact and burden is reduced and the effect becomes less.
  3. Resource sharing between the businesses. The resources that every business has are merged together meaning that no more expenses are incurred and manufacturing process rate is increased and the cost is reduced during resource purchase.
  4. Increased technical skills and expertise. Each business has its own workforce and when their skills are brought together, the expertise of the company is upgraded, quality increased and stakeholders are attracted for share ownership in the company.
  5. Access to bigger market and creation of more business channels. The newly formed business entity has a wide access to the global market and more in a position to explore further markets.


The businesses have a higher bidding power in comparison to a single business entity.

  1. Increased profits. The overall profits increase automatically from the merge. This is because the quality increases, more output and revenues double up.
  2. There is increased competition advantage in the global market. The merged businesses stand a better chance of competing with other single entity businesses. This is because of the quality improvement, a better company profile, and a more proficient product look in the market.
  3. Asset sharing. The business assets increase the process of product manufacture and more products are produced with better output presentation. The more assets give the company a chance to compete with other businesses.(Business, 2013)

The joint venture has its drawbacks though not as many as the merits. They involve determining the capability and the capacity of a joint venture, how to attract and convince another business to enter into the agreement, cash management, and the management and division of responsibilities. (Minja, Kikwasi, Thwala,  2012)



Joint venture is a success and it has seen companies grow and become giants in the global market in the long run. With the example of Sony Ericson the Swedish and Japan joint venture (theguardian,  2011) it is of no doubt to say that venturing is not appropriate with its existence in the market for more than eight years since its formation back in the year 2001.


Theguardian, 2011.Sony takes full control of Sony Ericsson joint venture

available at on 25 October 2013

Steven J., Geraldine J.&Wellington D., 2012. A Study of Joint Venture Formation between Construction Organizations in Tanzania available at…/3360.pdf‎

accessed on 25 October 2013


Business sales 2013Advantages and Disadvantages ofJoint Ventureavailable a…/9/5/…/wp8-pros_and_cons_of_jv.pdf‎accessed on 25 October 2013

Business Gateway 2013Joint ventures and partnering

available at

Scott V.  2013The Benefits and Pitfalls of the Joint Ventureavailable at…/JointVenture_Derco.pdf‎accessed on 25 October 2013

Angela Monaghan 2012Jaguar Land Rover seals Chinese joint ventureavailable at accessed on 25 October 2013

Eric W. 2013Organizational learning and unlearning: Transferring knowledge to

greenfield versus acquisition joint venturesavailable at…/tsang.pdf‎accessed on 25 October 2013


Scott A. 2013What is a joint venture and how do they work?Available atcom/od/beyondstartup/a/jointventures.htm”> accessed on 25 October 2013



http//‎accessed on 25 October 2013

Giora A. 2006Difference in Organizational Culture and it Influence on the Performance of International Joint Ventures in Israel .Available…/Giora%20Avny%20-%20tézisek.doc‎accessed on 25 October 2013




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