Page 4 - Business-12

Unit 1

The Joint Venture

Yoon: Since Universal is in the process of finalizing a joint venture with New World Inc., it is impos-
sible for us to make either Union or Super Trading exclusive agents. I think it will be unfair to
New World, Inc. if we pursue this plan. We might be accused of violating contract stipulations.
Ford: As you know well, there is a great deal of demand for these items. If you don’t do business
with us, you are depriving fans, your target market, of using your products. This is also dis-
advantageous to you because you are turning down an opportunity to be more popular in the
market.
Yoon: We know that these items are in strong demand, but there is no way that we can do business
with your company now. I hope that this matter is clear. Besides, we are confident that we can
also get the same degree of exposure by partnering with New World. Who knows, in the future
we can be partners in a similar venture.
Ford: Well, I was afraid this would happen. Is there any way that you supply us with the items?
Yoon: I think you should try to find a more suitable company elsewhere. There are other compa-
nies in the market, although I know that our items enjoy being on the lead.
Ford: Could you recommend another company to do business with us? If you could, we would
highly appreciate it.

1. What are some of the companies that you have worked with?

Sample answer:
In the local front, we have done business with Excellence 2000 and Pioneer Ltd. These are repu-
table companies here in the country. We are currently forging ties with international compa-
nies like Arko, Inc.

2. Do you prefer to run a business alone or with a partner company?

Sample answer:
Being alone has its advantages, but since we are planning to expand, I think it is to our ad-
vantage to work with other companies, especially those that have more experience and back-
ground.

3. How can one find a good and reliable business partner?

Sample answer:

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