International joint ventures are too evident everywhere. From the shirt and pair of jeans you wear to mobile phones you pocket, car you drive and computer you work with. Products (and services, too) are definitely amalgam of companies who made joint venture agreements.
Successful companies just do not monopolize work anymore. They outsource them anywhere that meets their standards. Not merely because of cheaper productions, companies outsource and make more international joint venture agreements to localize their products. Remember the mantra, “Think global, act local?” The principle was the binding spell for companies. Suddenly, you find Coca-Cola collaborated with local industrial designers to produce custom-fit ads and products. They recently launched Coke solo in the Philippines to sell-out in a “sachet market”.
Moreover, companies outsource works, especially in target countries, for faster production and distribution. When Amway was losing from big shipping costs, the company immediately closed their centralized distribution centers. They built local manufacturing-distribution plants and partnered with wholesalers to distribute products more quickly.
Open a computer and you will see the obvious products of joint ventures. Its central processor may come from Texas Instruments or Intel. Its operating system may be from Linux, Apple or Microsoft. Chinese engineers may have developed the circuit board. Taiwanese may have designed its LCD monitor. Its audio may be from Realtek. Its modem and Bluetooth technology may be from another company like IXI Mobile Inc.
Also, check your mobile phone. It may have an operating system and browser from Symbian, Blackberry or Microsoft. Its audio may be from Sony. China may have made and finished its battery.
Even in travel industry, packaged services are also products of joint ventures of airline, local transportation, tours, hotels, food and even souvenirs.
International joint ventures have indeed reinvented products and services in a faster pace. Without these courageous joint ventures, Samsung could have not launched its version of touch phones immediately after iPhone.
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- Rivers Corbett
- Rivers Corbett, MBA is an award winning entrepreneur, speaker, and author of "13 Fears of Entrepreneurs" He has received numerous business honors including Entrepreneur of the Year, Canada's Hottest Start-ups List and Canada's Fastest Growing Companies list through Profit magazine and most recently recognized as one of Canada's 10 Mentor RockStars.. Rivers is presently a member of Startup Canada's National Advisory Council, founding entrepreneur of StartUP Fredericton & the "Entrepreneur in Residence" at the University of New Brunswick. His real joy and expertise is being a StartUP Advisor and "zagging while everyone else zigs"...like his two newest businesses ventures the Relish Gourmet Burgers restaurant chain and TheRockStar StartUP for StartUP entrepreneurs. Oh... he is also the leader of a team of over 25 chefs through his other company The Chef Group. Not bad for a guy who hates to cook. Always looking for a new idea to help businesses' succeed...this is his newest marketing discovery for StartUPs The Lyoness Advantage. "Rivers is a 21st century entrepreneur, he's the one to watch" - Jim Gilbert: Canada's Huggable Car Dealer!