Businesses have also continued these shared relations into inter-departmental and inter-firm approaches. More and more, companies are creating alliances and joint ventures in order to achieve the best possible outcome. And why wouldn't they? It makes much more sense to take advantage of another firm's expertise in a specific area, rather than a poor DIY attempt. An example of this good business sense is the union of Tiffany & Co. and Swatch.
The joint target was to produce a range of products that contained the best elements and designs of both firms. However, each company was also looking to gain extensive benefits from each other. Tiffany & Co. wanted the superior knowledge that Swatch had in the manufacture of watches, whilst Swatch was looking to gain access to highly valuable and lucrative distribution markets of Tiffany & Co., not to mention the desirable up-market brand name.
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