UNIT 6: Alliances

strategic alliance

A partnership between companies

agreement

A mutual arrangement

codeshare agreement

Agreement between airlines to share flights

airline

A company that provides air travel services

provide a service

To offer help or assistance

passenger

A person travelling in a vehicle

goods

Products that are sold

competitor

A rival company

competitive

Focused on winning

knowledge

Information or understanding

resources

Assets like money or people

expertise

Specialised knowledge or skills

expand your reach

Increase influence or audience

destination

A place you travel to

objective

A business goal

market leader

The top company in a market

network

A system of connections

partner

A business collaborator

partnership

A business relationship

potential

The possibility of something happening

cooperation

Working together

sums of money

Large amounts of money

domestic

Related to your own country

investment

Putting money into something

outweigh

Be more important than

acquisition

Buying another company

acquire

To buy or gain

takeover

Taking control of a company

take over

To take control

joint venture

A project between companies

long-term

Lasting for a long time

regulatory approval

Official permission from authorities

equity stake

Ownership in a company

shareholder

A person owning shares

synergy

Companies working better together

turnaround

A complete improvement

win-win

Beneficial for all parties

gain an advantage

Get an upper hand

build a foundation

Create a solid base

strong presence

A noticeable position in a market

greater access

More opportunity to use something

expand your business

Grow your business

business partnership

A formal collaboration

brand

A company/product identity

trademark

A registered symbol or name

efficiency

Doing something with minimal waste

leadership

Ability to guide others

management structure

How a company is organised

ownership

Having control over something

stakeholder

A person with interest in a company

technology

Tools/systems used to solve problems

merger

Combining companies

merge

To combine companies

friendly takeover

Agreed takeover

hostile takeover

Unwanted takeover

pre-defined

Decided in advance

mutually beneficial

Beneficial for both sides

share

A unit of ownership

asset

Something valuable owned

join forces

Collaborate together

reallocate

Assign again

consolidate

Combine into stronger whole

consult

Ask advice

buy out

Take control by buying

shy away

Avoid something

at all costs

No matter what

take the credit

Accept praise

bad blood

Hostility between people

client

Customer receiving services

assertive

Self-confident

collaborative

Team-oriented

reach a compromise

Find middle ground

open doors

Create opportunities

on good terms

Friendly relationship

on bad terms

Bad relationship

raise an issue

Bring up a problem

fall out

Argue

a bad move

A poor decision

run the show

Be in control

run on fumes

Be exhausted but continue

burn your bridges

Cut off future options

inevitable

Certain to happen

perfectionist

Someone wanting everything perfect

fail fast principle

Learn quickly from failures

budget

Financial plan

commission

Order a project

construction

Building process

contractor

Hired worker/company

background check

Check someone's past

qualified

Having required skills

extensive

Large in amount

slow down

Reduce speed

contingency

Possible future situation

overestimate

Think too highly of

engineer

Person designing/building

around the corner

Happening soon

expand into

Enter new markets

benefit from

Gain advantage

lack of interest

No interest

cross-company

Between companies