February 2018
Intermediate to advanced
352 pages
12h 7m
English
Content preview from Business Chemistry
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4Management of Business Cooperation
Theresia Theurl and Eric Meyer
University of Münster, Münster School of Business and Economics
Those who work alone are adding, those who cooperate intelligently are multiplying.
Joachim Milberg, former CEO of BMW
Today, companies are part of a business ecosystem with mutual dependencies rather than independent stand‐alone fighters. The world has moved from large, ponderous conglomerates to smaller, focussed and swiftly adapting corporate structures. Cooperation may be part of these new structures that have become highly relevant in the chemical industry [1]. Nevertheless, many companies are lacking a comprehensive approach to managing the boundaries of the firm and their partnerships and have neither sufficient management capabilities to manage cooperation nor the ability to quantify the value of these partnerships to their companies.
In this chapter you will learn what a business cooperation is, how it can help to achieve corporate objectives and how the management of business cooperation works. You will also learn about the basic characteristics of cooperation and most common types of cooperation. In addition, you will learn why managing a cooperation is different from routine management and consequently requires specific management tools that are adapted to these peculiarities. Finally, this chapter introduces a five‐step management process that addresses the peculiar characteristics of cooperation and provides instruments for coping ...
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