UNIT 6 – ALLIANCES
6.1 STRATEGIC ALLIANCES
What is an alliance?
A union or association formed for mutual benefit, especially between countries or
organizations
Examples: Star Alliance, Nestlé – Starbucks
Vocabulary
Word Meaning
Strategic alliance (with sb) A planned partnership between companies to achieve
shared goals
Agreement A formal arrangement or deal between parties
Codeshare agreement A deal where airlines share flights and sell seats on each
other’s planes
Airline A company that provides air transport
Provide a service To offer something useful to customers
Passenger A person traveling in a vehicle (not driving)
Goods Products that are bought and sold
Competitor A company or person you compete against
Competitive Having a strong ability or desire to compete
Knowledge Information and skills gained through experience
Resources Things used to achieve goals (money, people, materials)
Expertise Special skill or knowledge in a field
Expand your reach To increase the number of people or markets you serve
Destination A place people travel to
Objective A goal or aim
Pursue (business) To try to achieve business goals
objectives
,Market leader The company with the strongest position in a market
Network A connected system (e.g., routes or business connections)
Partner A person or company you work with
Partnership (with sb) A cooperative relationship between parties
Potential (for sth) The possibility of something happening or developing
Cooperation Working together toward a goal
Sums (of money) Amounts of money
Domestic Related to one’s own country
Investment Putting money into something to gain profit
Outweigh To be more important than something else
Acquisition Buying another company
Acquire To buy or gain something
Takeover/ Take over Taking control of a company
Joint venture A business project owned by two or more companies
Long-term Lasting a long time
Regulatory approval Official permission from authorities
Equity stake A share of ownership in a company
Shareholder A person who owns shares in a company
Synergy When combined efforts produce better results
Turnaround When a failing business becomes successful
Win-win A situation where all sides benefit
Domestic market The market within your own country
Gain an advantage (on sb) To get a better position than someone else
Build a foundation To create a strong base for future success
, Strong presence (in a Being well-known and influential in a market
market)
Share knowledge and To exchange information and tools
resources
Greater access (to sth) Better opportunity to use something
Expand your business To grow your company
EXERCISE | 8 P59
Complete the sentences using the words and phrases in the box.
Equity stake | Foundation | Gain | Outweigh | Presence | Regulatory approval | Synergy
| Turnaround
1. In order to form a joint venture, companies need to have regulatory approval and
follow legal guidelines of the countries they are based in.
2. A company may buy shares in another company in order to have a(n) equity stake
in it.
3. Two companies working together can more easily gain a competitive advantage
over other businesses in the same field.
4. Many companies have found that the benefits substantially outweigh the costs
when they work with another company and share knowledge.
5. A company which is having problems may experience a dramatic turnaround when
forming an alliance with another business.
6. Working together can produce synergy which helps companies to increase profits
and run the business more effectively.
7. A company with a strong presence in its domestic market may be the ideal
company to collaborate with.
8. A strategic alliance can help companies to build a strong foundation in order to
increase their own networks and expand their businesses.
6.2 BUSINESS PARTNERSHIPS
Vocabulary
Word Meaning
Business partnership A relationship where two or more people/companies work
together and share profits
Brand The name, image, or identity of a company or product
Trademark A legally protected name, logo, or symbol of a company
Efficiency Doing something well without wasting time or resources
Leadership The ability to guide or manage others
6.1 STRATEGIC ALLIANCES
What is an alliance?
A union or association formed for mutual benefit, especially between countries or
organizations
Examples: Star Alliance, Nestlé – Starbucks
Vocabulary
Word Meaning
Strategic alliance (with sb) A planned partnership between companies to achieve
shared goals
Agreement A formal arrangement or deal between parties
Codeshare agreement A deal where airlines share flights and sell seats on each
other’s planes
Airline A company that provides air transport
Provide a service To offer something useful to customers
Passenger A person traveling in a vehicle (not driving)
Goods Products that are bought and sold
Competitor A company or person you compete against
Competitive Having a strong ability or desire to compete
Knowledge Information and skills gained through experience
Resources Things used to achieve goals (money, people, materials)
Expertise Special skill or knowledge in a field
Expand your reach To increase the number of people or markets you serve
Destination A place people travel to
Objective A goal or aim
Pursue (business) To try to achieve business goals
objectives
,Market leader The company with the strongest position in a market
Network A connected system (e.g., routes or business connections)
Partner A person or company you work with
Partnership (with sb) A cooperative relationship between parties
Potential (for sth) The possibility of something happening or developing
Cooperation Working together toward a goal
Sums (of money) Amounts of money
Domestic Related to one’s own country
Investment Putting money into something to gain profit
Outweigh To be more important than something else
Acquisition Buying another company
Acquire To buy or gain something
Takeover/ Take over Taking control of a company
Joint venture A business project owned by two or more companies
Long-term Lasting a long time
Regulatory approval Official permission from authorities
Equity stake A share of ownership in a company
Shareholder A person who owns shares in a company
Synergy When combined efforts produce better results
Turnaround When a failing business becomes successful
Win-win A situation where all sides benefit
Domestic market The market within your own country
Gain an advantage (on sb) To get a better position than someone else
Build a foundation To create a strong base for future success
, Strong presence (in a Being well-known and influential in a market
market)
Share knowledge and To exchange information and tools
resources
Greater access (to sth) Better opportunity to use something
Expand your business To grow your company
EXERCISE | 8 P59
Complete the sentences using the words and phrases in the box.
Equity stake | Foundation | Gain | Outweigh | Presence | Regulatory approval | Synergy
| Turnaround
1. In order to form a joint venture, companies need to have regulatory approval and
follow legal guidelines of the countries they are based in.
2. A company may buy shares in another company in order to have a(n) equity stake
in it.
3. Two companies working together can more easily gain a competitive advantage
over other businesses in the same field.
4. Many companies have found that the benefits substantially outweigh the costs
when they work with another company and share knowledge.
5. A company which is having problems may experience a dramatic turnaround when
forming an alliance with another business.
6. Working together can produce synergy which helps companies to increase profits
and run the business more effectively.
7. A company with a strong presence in its domestic market may be the ideal
company to collaborate with.
8. A strategic alliance can help companies to build a strong foundation in order to
increase their own networks and expand their businesses.
6.2 BUSINESS PARTNERSHIPS
Vocabulary
Word Meaning
Business partnership A relationship where two or more people/companies work
together and share profits
Brand The name, image, or identity of a company or product
Trademark A legally protected name, logo, or symbol of a company
Efficiency Doing something well without wasting time or resources
Leadership The ability to guide or manage others
