Anisha ,riya and vikram mutually decided to start a partnership business of manufacturing kids garments. they decided that vikram associated with the firm will not be revealed to general public. riya will take active part in carrying out business of the firm while anish will not take part in day to day activities of the business. identify and explain various types of partnere which are being highlighted in the given cases
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Answer:
Leveraging business partnerships are a necessity for any successful fashion design brand. Enlisting a MBA graduate to launch a brand can be mutually beneficial.
Business partnerships are needed to grow a brand, but the designer should also develop basic business skills to keep production running smoothly.
The average cost to launch a new fashion design brand is a minimum of $50,000, but less for smaller or home operations.
If you've got a passion for fashion but you're lacking a knack for business, don't worry, you can still turn your creative flair into a successful entrepreneurial endeavor. What you need to make it work is a savvy business partner.
"It is very rare to be a creative and a business person contemporarily," said Alessandra Basso, London Business School graduate and co-author of "Commercializing Creativity," a report offering advice for up-and-coming fashion designers.
"That is why many designers look for a trusted business partner, initially someone from the designer's inner circle, who can focus on the day-to-day operations of the business, allowing the designer to concentrate on the products and creation process," Basso added.