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Two fashion designers based in New South Wales have decided to jointly fund the marketing of their designs overseas for the next five years - HSC - SSCE Business Studies - Question 5 - 2010 - Paper 1
Question 5
Two fashion designers based in New South Wales have decided to jointly fund the marketing of their designs overseas for the next five years. These designers usually ... show full transcript
Worked Solution & Example Answer:Two fashion designers based in New South Wales have decided to jointly fund the marketing of their designs overseas for the next five years - HSC - SSCE Business Studies - Question 5 - 2010 - Paper 1
Step 1
Which of the following best describes the arrangement between the fashion designers?
Answer
The most appropriate description for the arrangement between the two fashion designers is 'Strategic alliance.' A strategic alliance refers to a formal agreement between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations. Since the designers usually compete but have decided to collaborate specifically for international marketing efforts, this scenario aligns with the concept of a strategic alliance.