Reply to 3 DB Post 150 words a piece

Rachel Freyre

Liberty University

Lamont, you did a superb job of giving a well-rounded definition of what a joint venture truly is, and how they can be both beneficial to a company looking to expand their market overseas, as well as hazardous depending on how they partake in this transaction. Outside factors have the possibility to play a large role in this venture as well. Beamish and Lupton (2009) accurately explain what all is necessary for a joint venture to work when they state that it requires “necessity of honesty, trust, and commitment for the success of the JV… focusing on what is best for the JV rather than individual partner objectives, and division of managerial responsibilities according to the functional expertise of each partner” (p. 75). Taking on a joint venture is not an easy task, especially when considering the variables of location, foreign currency and pricing, as well as the ability to know whether you can trust your co-partner. However, when decisiveness is used, the benefits of this business association can be very rewarding and profitable. Thank you for your post!

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