It doesn’t have to be a large corporation to benefit from the advantage of volume. This can also be achieved through Joint ventures. Joint ventures might be with a firm in the same industry or with a company in a different industry, but by combining the two, they will get a competitive edge over other market participants. One firm may have a unique trait that another company does not. Similarly, the other firm enjoys a competitive edge that the other firm lacks. These two businesses may form a joint venture to create synergies for the common benefit. When one company forms a joint venture with another, it opens up a huge market that has the potential to expand and flourish. Joint ventures provide an additional benefit in terms of technologically updating products and services. When two or more businesses join forces, the primary goal is to offer items at the lowest possible cost. And this may be accomplished when manufacturing costs are decreased, or service costs are handled. The sole goal of a real joint venture is to deliver the finest products and services to its customers.

Sreekala P

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