Carlos: Thanks for coming in today Rolland… and thanks for signing the NDA. I think Miranda’s already filled you in on some of the background, but may be you have some questions?

Rolland: Yes, for starters, I’d love to hear about how you got to this point? Get a sense of your goals and the potential of this alliance, if I can call it that. Then go from there.

Carlos: For sure. And I should make clear here that we haven’t actually entered into talks on a formal partnership or anything. Not yet anyway.

Rolland: Right, you mentioned in your email that you’ve really just been nurturing a relationship… with… Visser, right?

Miranda: Yes, Visser Hotels and Resorts. Out of Chicago.

Rolland: Okay. Some interesting changes in leadership there recently. Anyway, you’ve been meeting with them for how long?

Carlos: Ur.. about six months now… They paid a visit back in June and let us know they were looking to forge a partnership with a winery… so they were basically meeting with a bunch of different ones to find the right fit.

Rolland: And your initial response was… positive?

Miranda: Of course! we’ve been on the lookout for synergies with other industries… other companies.. to foster collaboration. And hotels are big for us. A really good way to broaden our reach. That’s why we brought you in to help with that event with the Marriot.

Rolland: Yes, and … I remember talking with you at that time about shared values. The importance of shared values.

Carlos: Right. That came up in a meeting last week too.

Rolland: Glad to hear it. I’ve seen companies rush to combine forces before they’ve figured out whether there’s a fit. And so, my question with Visser, have you got that values match?

Miranda: Definitely. We’re very well aligned. And so building on that, more specifically, they’ve floated the idea of a wine club. That’s something that needs some fleshing out, but we’ve discussed some of how it might work. And possibly a private label down the road. Clearly, these are mutually beneficial ventures.

Rolland: Yeah, these are good ideas if done right. And so, you’ve identified some common goals, they feel like a good fit, now…. you’re looking for help on next steps?

Miranda: That’s right. We’re very excited about this. It could become a very significant growth driver. But they’re talking to other wineries as well. So we need to play this smart, and… well, that’s what we’d like your help with.

Collocation

sign an NDA (non-disclosure agreement)

• I’m sorry, I can’t tell you that. I’ve signed an NDA.
• Please tell them to sign an NDA to protect our company.

Enter into talks (“talks is another word for negotiation). This is used when companies begin negotiations.

• Wish us luck as we enter into talks with China’s biggest retail company.
• After that big, successful collaboration, we’ve entered into talks on formal partnership with Bikerz Inc.

formal partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.

• A formal partnership with Bikerz Inc. is underway, and we’re very excited.
• Formal partnership entails more than just handshakes and promises.

nurture a relationship

• Hosting dinners and soirées are important ways for nurturing relationships with business partners.
• It’s beneficial to any private companies to nurture a relationship with the government.

the right fit (a good match)

• We need to talk to many retail companies to find the right fit.
• Networking with several companies in the industry is a good way to find the right fit.

forge a partnership means to put in a lot of hark work in developing the partnership and making it official.

• After months of talks, we have finally forged a partnership with Bikerz Inc.
• Microsoft forging a partnership with Apple is a wishful thinking.

foster collaboration means to promote the growth or development of

• Bikerz Inc. is fostering collaboration with non-government organizations (NGO) to promote safe and healthy environment.
• Foreign companies know that fostering collaboration with the government is essential.

broaden your reach means to make or become greater in extent, volume, size, or scope

• A collaboration with local companies is one way to broaden our reach.
• Bikerz Inc. has forged a partnership with Shimano International, this will surely broaden their reach.

shared values are policies and practices that enhance the competitiveness of companies while improving social and environmental conditions in the regions where they operate

• Our companies have almost similar shared values, this company merger will not be difficult.
• The shared values our companies have are what’s holding it from bankruptcy.

combined forces means to begin working together in order to achieve something

• Thanachart Bank and The Military Bank have combined forces during the pandemic.
• Companies need to combine forces to stay afloat in the business world.

well-matched/ well aligned means appropriate for or very similar to each other

• Their values are well-matched, this is the reason why their partnership has been successful.
• Before you get into formal partnership, you need to make sure your companies’ values are well-aligned.

flesh out means to make (something) more complete by adding details 

• A project framework has been delineated but the rest of the plans need fleshing out.
• Several aspects of this proposal have to be fleshed out if we want this approved by the board of directors.

mutually beneficial means an arrangement between two parties that will yield positive results for both parties involved

• This collaboration seems promising especially that it’s mutually beneficial.
• Could you please draft a proposal that’s mutually beneficial for all the people concern?

common goals refers to an aim shared by more than one person or organization

• Before we continue with our talks, I would like to know if we have common goals moving forward.
• Forging this partnership is difficult because as it turns out we do not have common goals.

play it smart or make a good decision

• We need to step up our game and play it smart if we want this partnership badly.
• If you play it smart, you could gain big from trading in stocks.

Other Vocabulary

Alliance is a relationship where two countries or companies work closely together.

Synergy is the extra impact that comes from the joining of two things or the natural fit between two things.

Sources:

Partnership. https://www.investopedia.com/terms/p/partnership.asp

Partnership Collocation. Business English Pod. https://www.businessenglishpod.com/

Bob Dignen. Communicating Business English. Compass Publishing.

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