ASSIGNMENT COVER SHEET STUDENT DETAILS Student name: Nguyễn Ngọc Hương Lan Student ID number: 21000811 UNIT AND TUTORIAL DETAILS Unit name: Academic English Tutorial/Lecture: Unit number: AEN-T122WSB-6 Monday (12:00-15:15) Class day and time: Thursday (8:00-11:15) Academic English Lecturer or Tutor name: Gabriel Ryan ASSIGNMENT DETAILS Title: How beneficial is it for large and small businesses to cooperate? Length: 1200 Due date: 11/4/2022 Date submitted: 11/4/2022 DECLARATION I hold a copy of this assignment if the original is lost or damaged I hereby certify that no part of this assignment or product has been copied from any other student’s work or from any other source except where due acknowledgement is made in the assignment I hereby certify that no part of this assignment or product has been submitted by me in another (previous or current) assessment, except where appropriately referenced, and with prior permission from the Lecturer / Tutor / Unit Coordinator for this unit No part of the assignment/product has been written/ produced for me by any other person except where collaboration has been authorised by the Lecturer / Tutor /Unit Coordinator concerned I am aware that this work may be reproduced and submitted to plagiarism detection software programs for the purpose of detecting possible plagiarism (which may retain a copy on its database for future plagiarism checking) Student’s signature: Note: An examiner or lecturer / tutor has the right to not mark this assignment if the above declaration has not been signed How beneficial is it for large and small businesses to cooperate? Nguyễn Ngọc Hương Lan AEN-T122WSB-6 Western Sydney University April 11, 2022 Business partnerships develop long-term, successful, strategic relationships between customers and suppliers to achieve best practices and sustainable competitive advantage HR specialists collaborate closely with business executives and line managers to accomplish common organizational goals under the business partnership model The business partnership model can include members of any business function An example of an active partnership is a joint venture Resale account information sharing or "value chain integration" (Child, 1998) are tactical collaborative initiatives Joint product development is a typical strategic partnership activity Partnership agreements are commonly used in different types of partnerships An example is strategic cooperation in the aviation sector brought together by the Department of Defense and AgustaWestland Both partners share an agreed shared goal to improve helicopter services And support for the frontline MOD also aspires to provide the best value for money to taxpayers, while AgustaWestland seeks to provide the best return for its shareholders through a steady, long-term income stream This essay will show the benefits of cooperation between enterprises in business A company's reputation significantly impacts purchase decisions in various business markets, which differs from the brand's image's more specific product-related influence It was common for the two companies to cooperate to attract more customers and increase their reputation For instance, Casper is an online mattress and bedding retailer specializing in selling mattresses in a box Casper mattress unpacking videos like this have gone viral on YouTube Still, despite the company's 100-day return guarantee, some customers may be hesitant to buy a mattress without first trying it out West Elm is a high-end furniture retailer Casper and West Elm collaborated so that customers could test out the comfortable bed before buying it, and West Elm could promote its stylish bedroom furnishings This is another example of a co-branding collaboration that benefits both parties After all, Casper doesn't sell furniture, and West Elm doesn't sell mattresses, which helps both businesses appeal to a broader audience It also allows customers to try out mattresses before purchasing them and experience what it's like to sleep in a bed frame If one firm has a lot of traffic but no excellent content, they may team up with another company with a lot of good material but little traffic and assist each other out Alternatively, if both organizations have a lot of good traffic but want to receive an inflow of people who aren't necessarily searching for the keywords they're targeting, they can trade traffic Both firms profit if they provide material that promotes the other company A terrific example of a co-branding collaboration between two very different goods with similar ambitions — to get more consumers — can be seen here A streaming application Spotify has collaborated with Uber to produce "a soundtrack for your trip." This is how it works: Riders are encouraged to connect with Spotify and become the DJ of their journey while waiting for an Uber transport Users may pick what they want to listen to from their playlists This clever co-branding collaboration allows both Uber and Spotify fans to benefit from improved app experiences And customers may be more inclined to choose Uber and Spotify over competitors if they know they will be allowed to listen to music of their choice during their next journey Even if merging with another firm offers many advantages, there are a few things to consider before signing that joint venture agreement Every successful business recognizes that its most valuable asset is its customers So what better way to enhance your customers' experience than to partner with a firm that can provide helpful information while doing the same for theirs? Members' companies profited greatly from shared vision and resource sharing across network members These benefits were linked to a generalized impression of the benefits of network membership, which positively influenced members' future participation plans Individual business owners build strategic networks when they recognize comparable answers to market uncertainty Members of effective networks have a shared vision of what the members should accomplish, what is valued or of interest, and what is required or expected of participation (Wollebaek and Selle, 2002) In this study, the second antecedent, shared vision, is defined as persons who share comparable values and behavioral expectations (Thorelli, 1986) In covid-19, disease prevention measures such as distancing, limiting contact make technology ordering and delivery convenient for consumers to receive goods, helping consumers buy the products they need at the time they want Activities such as working, shopping, and entertainment can still be carried out without moving to many locations Customers are not required to wait in line, as they would in a traditional store Consumers need to stay at home, go online to choose to buy, and wait for the goods to be delivered to their homes When the separation/ blockade takes place for a long time, consumers easily fall into a negative state such as boredom, loneliness, prone to anger, and frustration; online shopping is one of the methods—temporary relief from these emotions For instance, today, there are ticket booking or online booking applications linked with electronic payment wallets, helping users save a lot of time compared to traveling to places to buy tickets or make reservations Although there is an argument that shopping online is too easy and fast, making it easy for consumers to spend more than their income With the development of e-commerce and the competition between businesses, consumers can experience the best, most straightforward, and fastest services when shopping online Consumers may purchase a wide range of products with only a few mouse clicks This also creates and increases the situation of spending too much, even exceeding the income of yourself and your family Moreover, consumers face more violations of rights when buying online such as goods that are not as advertised, goods that not apply co-check, goods that are delivered late, paid but not delivered, and information security personnel Despite some negative effects, it is a fact that many consumers acknowledge that online shopping is still an optimal choice in the context of the complicated development of the Covid-19 epidemic In conclusion, business cooperation brings many benefits to both parties Although, the joint venture may bring disadvantages such as possible conflicts and ownership disputes between the participating parties due to disagreement on investments or profit-sharing Due to inexperienced and small-scale enterprises, the "big fish eat small fish" may appear Moreover, there may be many legal troubles when joint ventures involve cultural projects However, ignoring those disadvantages, the joint venture has brought a lot of benefits, as mentioned above REFERENCE LIST Blog.hubspot.com Retrieved 30 March 2022, from https://blog.hubspot.com/marketing/best-cobranding-partnerships Bộ Công Thương Việt Nam Moit.gov.vn (2021) Retrieved 10 April 2022, from https://moit.gov.vn/tin-tuc/bao-chi-voi-nganh-cong-thuong/mua-sam-qua-mang-thoi-dich-ben h-covid-19-tien-loi-ma-cung-da.html Child, J., Faulkner, D., & Tallman, S (2005) Alliance performance Cooperative Strategy, 382-398 https://doi.org/10.1093/acprof:oso/9780199266241.003.0017 Cretu, A., & Brodie, R (2007) The influence of brand image and company reputation where manufacturers market to small firms: A customer value perspective Industrial Marketing Management, 36(2), 230-240 https://doi.org/10.1016/j.indmarman.2005.08.013 MOD signs new partnering arrangement with Leonardo Helicopters UK GOV.UK (2016) Retrieved 10 April 2022, from https://www.gov.uk/government/news/mod-signs-new-partnering-arrangement-with-leonardo -helicopters-uk Thorelli, H (1986) Networks: Between markets and hierarchies Strategic Management Journal, 7(1), 37-51 https://doi.org/10.1002/smj.4250070105 Wollebaek, D., & Selle, P (2002) Does Participation in Voluntary Associations Contribute to Social Capital? The Impact of Intensity, Scope, and Type Nonprofit And Voluntary Sector Quarterly, 31(1), 32-61 https://doi.org/10.1177/0899764002311002 ... Moit.gov.vn (2021) Retrieved 10 April 2022, from https://moit.gov.vn/tin-tuc/bao-chi-voi-nganh-cong-thuong/mua-sam-qua-mang-thoi-dich-ben h-covid-19-tien-loi-ma-cung-da.html Child, J., Faulkner, D.,