IGCSE, A Level Business Student Forum

Q3 Analyse the advantages of a partnership. [6]

Possible Structure:
[KN]
[AN]
[AN+]

[KN]
[AN]
[AN+]

(kn) less chances of wrong decision
(an) their will be one person to correct the other persons decision which could be wrong about the business
(an+) leading to smooth running of the business
(kn)less responsibility
(an) as decision making will be distributed between two people
(an+) leading to less stress

[KN] Quick decision making process
[AN] Decision making can be more efficient in a partnership, as partners can collaborate with each other.
[AN+] which will increase output as there would lesser conflicts and problems will be solved quickly.

[KN] Risk taking
[AN] Partnerships can share financial risks and responsibilities. In case of business losses each partner can contribute together to cover these losses.
[AN+] This can reduce the financial burden on individual partners compared to a sole trader.

[KN] Partners would encourage to work more harder.
[AN] Partners would work harder to earn more profit together.
[AN+] This leads to growth of the business.
[KN] More new ideas into the business.
[AN] Partners can share their ideas which would help in more ideas into the business.
[AN+] This would help in bringing more new creativity into the business.

[KN] shared responsibility and workload
[AN] this can lead to a more balanced workload and reduce the individual burden on each partner
[AN+] this can improve efficiency and allow partners to focus on their areas of expertise

[KN] access to capital and resources
[AN] increasing the overall financial capacity of the business
[AN+] It also allows for shared expenses, reducing financial strain on individual partners

[KN] Shared financial resources
[AN] This shared financial resource base allows the business to access more funds than a sole proprietorship
[AN+] Partners can pool their money, which can be especially beneficial when starting or expanding a business.

[KN] Diverse skill sets and knowledge
[AN] Partnerships often bring together individuals with different skills, experiences, and knowledge.
[AN+] one partner might excel in sales and marketing, while another is skilled in financial management. This complementary skill set can enhance decision-making and problem-solving.

[KN] Divided workload and responsibilities.
[AN] Partners can easily carry out responsibilities and everyone can perform their assigned tasks.
[AN+] Businesses will benefit as multiple people are putting their efforts so business stays and keeps on going without lags.

[KN] Divided financial resources.
[AN] Partners often share capital and spend on business and all-together spend on business when required.
[AN+] Money can be easily managed and they can put money in business at any time of emergency.

KN]Share of risk and work load'
[AN]partners will be more reponsible about their work as there is low risk of wrong decisions
[AN+]This lead to more productivity of the business
[KN]more chances to expand
[AN] as there is gonna be share of ideas between the partners and also share of capital .
[AN+]Thus lead to more competition of the business and brand image will be developed.

[kn] a partnership can offer better resources to flourish in the business
[an] as both the people can share the workload and responsibilities leading to more being achieved in lesser time
[an+] this not only provides better sales but also more leisure time for the owners
[kn] partnering with someone allows u too gain their experience and expertise
[an] which helps to bridge the gaps that a person might have in his solo operation
[an+] two or more different mindsets help to tackle different problems in new and better ways.

(Kn) risk is shared (an) since there is more than one owner, both work for the business and in times of failure both have to face it equally (an+) this can boost morale and confidence since they both support eachother

(Kn) more investment (an) the more the owners the more the capital invested the more the funds available (an+) such money can be used to carry out business ventures more successfully and on a larger scale

[KN] risk taking
[AN] as their are more then one person, risk would be distributed between them
[AN+] this would reduce the financial burden on one partner

[KN] New ideas
[AN] there would be new ideas in business as there would be more then one person working on the business
[AN+] this would result in possible success for the business

[KN]More investment in the business
[AN] which means more output can be produce so more sales in the business
[AN+] thus partnership help a business to be more profitable by having a greater market share

[KN] increase risk taking ability
[AN] as if there would be a loss the partners will bear it equally and if there would be a chance of success then they will divide the profit
[AN+]thus this helps to take risk at might be helpful for the business to grow

[KN] Risk Sharing
[AN] This will reduce the individual risk borne by each partner which will enhance creativity.
[AN+] Thus this will lead to businesses seeking growth and partners having the problem solving skill.

[KN] Helps the growth of ones mind too.
[AN] This is because partners can learn each others best practice's and strategies leading to continuous improvement.
[AN+] Thus this will further result in enhancement of overall capabilities of business.

Kumail Alvi wrote: ↑Wed Nov 01, 2023 1:16 am [KN] Divided workload and responsibilities.
[AN] Partners can easily carry out responsibilities and everyone can perform their assigned tasks.
[AN+] Businesses will benefit as multiple people are putting their efforts so business stays and keeps on going without lags.

[KN] Divided financial resources.
[AN] Partners often share capital and spend on business and all-together spend on business when required.
[AN+] Money can be easily managed and they can put money in business at any time of emergency.

good answer

Farzan Siddiqui wrote: ↑Tue Oct 31, 2023 9:45 pm [KN] Partners would encourage to work more harder.
[AN] Partners would work harder to earn more profit together.
[AN+] This leads to growth of the business.
[KN] More new ideas into the business.
[AN] Partners can share their ideas which would help in more ideas into the business.
[AN+] This would help in bringing more new creativity into the business.

construction of both points is poor esp analysis points where no impact is being shown