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Business strategy
Disadvantages of partnership.
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[QUOTE="Stena, post: 221238, member: 67486"] A partnership is sure to have its own cons just like the sole proprietorship. Many people enter into a partnership due to many reasons, could be to contribute resources, most especially. The thing is that in some cases, the two partners do not carry out effective planning and as such end up going in with unforeseen disagreements. In a partnership, disagreement is likely to occur between the parties involved, Perhaps being people of different mindsets about a certain issue. It takes two people of similar mindsets and willingness to drive a business forward. Partners tend to disagree about the basis of sharing of resources and power. In a partnership, any wrong action taken by one party has the tendency of affecting the other party, and of course the business. Unlike the sole proprietorship where the business owner alone bears the consequences of his decisions. In a partnership, a decision can not be taken without the involvement of both partners. This in some cases can lead to delayed decisions and results as contrary to the sole proprietorship where the business owner can easily make decisions and achieve results faster. I have been into a partnership once, it was a problem free one actually. We made terms and stuck to it, no one defaulting. [/QUOTE]
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