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Brown and Green Are Forming a Business as Partners

question 12

Essay

Brown and Green are forming a business as partners.If they do not create a formal written partnership agreement, what risks are they exposing themselves to?


Definitions:

Strategy Formulation

The method of determining the course of an organization and deciding on the distribution of its resources to follow that plan.

Strategy Implementation

The action phase of strategic management, involving the execution of planned strategies to achieve organizational objectives.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Institutional Memory

The collective knowledge and history held within an organization, enabling it to learn from past experiences and decisions.

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