AberdeenDoric Limited

ADL's business consists of a highly trained workforce who also works with specialized technical equipment. ADL's due diligence shows that Carnival Oilco (Carnival) is a much smaller company than ADL. ADL is aware that Carnival overstated its financial strength, but ADL does not consider this falsification a serious impediment to the joint venture. More specifically, ADL does not consider this misrepresentation to be a deal breaker.

Joint ventures are widely used by companies to gain entrance into foreign markets. Foreign companies form joint ventures with domestic companies already present in markets the foreign companies would like to enter. The foreign companies generally bring new technologies and business practices into the joint venture, while the domestic companies already have the relationships and requisite governmental documents within the country

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ival's perspective, an ideal scenario would be one in which members of the Carnival management team learn on the job. Once they demonstrate skills, expertise, good judgment and reliability, these employees can be given more authority and responsibility in the JV. Until Carnival's employees demonstrate their ability to take a more active role in the decision making process, ADL should strictly limit Carnival employees' authority to make unilateral decisions. Joint ventures are usually managed by a team consisting of members representing each party to the JV. A JV's management system is operated by people who are often influenced by parent firms that have different preferences or goals (Pearce 203). Top management consensus on goals is crucial for high levels of performance. Carnival employees should have a vote in the tactical or strategic decisions being made at the JV, but final authority should be vested in the Board of Directors to appoint officers and to ratify specific tactical and strategic decisions. Since ADL's employees are in the majority on the Board of Directors of the JV, ADL controls the JV. Once Carnival understands that it cannot make strategic decisions on behalf of the JV, its goal could be to maximum
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Approximate Word count = 2552
Approximate Pages = 10 (250 words per page)

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