Questions:
Produce a report for management which outlines:
1. The pImplications for management and employees of the organisationsssible benefits and drawbacks of partnership agreements. (The possible benefits and drawbacks of partnership agreements. *Guidance – use the recommended texts and articles to discuss the pro’s and con’s of partnership agreements in general. It is noted that the Western literature may present argumentswhich differ from the lived reality in Singapore.).
2. Identifies the implications for management, recommends whether or not they should pursue this and advises them on the key requirements for success in practice (Identify the implications for management and make recommendations. *Guidance notes – in this section you will be able to bring in the Singaporean context (Tripartite agreement)relating to employee relations.).
Partnership working simply means working in groups over certain activities or responsibilities they are required to carry out. Through the concept of partnership working it is noticed that organisations and companies gains the capability of overcoming the different barriers and makes a step forward for the bringing stabilization in business a (Akukwe 2014). Partnership working also provides with a more consistent as well as comprehensive care for the different individuals working in the organisation. All information’s based on the current topic have been presented section wise and in the first section a discussion on the partnership agreement in UK has been presented. In this section it has been stated that through partnership working the companies make certain amount of improvements over their current economic base and gradually becomes successful in the business competition. The agreement which is carried out between the two different business partners includes different form of ownership discussion and the level of profit and loss that would be experienced by the industry or the company. The characteristics of the different form of partnership agreement hs been outlined in this report and also the advantages and disadvantages have been highlighted. The modernized concept of partnership and the six most vital principles of partnership as stated by the Trade Union congress have been illustrated in this section.
A partnership agreement is actually a form of agreement generally done in business context which helps both the business organisations to set the terms and conditions of the different kinds of relationship that would be developed between two business partners so that they could carry out the business efficiently by sharing the different resources and requirements. Through partnership working it is basically noticed that business partners of two different companies or organisations structures certain terms and conditions for the relationship between the partners of the organisation (Effah 2014). The agreement carried out between the business partners includes the ownership as well as distributions of the profit and loss are also stated within the partnership agreement made. Predisposed forms of partnership agreement are often noticed to be liable until the varied necessities of statute partnership would be utilised. From the background on the partnership agreement in UK certain information has been gathered on the basis that different partners wish to link themselves up in the different form of business they would intend to carry out. Certain terms and conditions that have been made on the basis of partnership agreement are basically noticed to set out the rules considering which the partners of the business needs to carry out different activities and supply resources. In consideration of the business partners who are basically involved in the partnership agreement process it is important for the business partners to have a receipt and possess certain level of sufficiency on both the business parties. Establishing partnership agreement of business in UK it has been noticed that rights and obligations to the business partners would be supplied under the perspective of common law that are applicable under the legislation of the country of United Kingdom. In perspective of the partnership agreement in UK, it is noticed that business partners do contribute a certain proportion to their existing capital contribution so that the amount could be resolved in any kinds of default that might occur in business. In UK it is noticed that liability under partnership agreement would be repaid with some percentage of interest that would further be determined with the limits of business acts
The concept of partnership has changed with the change in time and business organisations have been noticed to add different extra features over partnership agreement. The different form of partnership agreement has been illustrated below:(Ehret et al 2013).
General partnership agreement- a general form of partnership agreement is basically established between two different general business partners. In the general business partnership agreement it is noticed that both the business partners would be held liable for any kind of illegal business activities.
Limited partnership- in the concept of limited partnership it is noticed that both the general partners and limited partners of the business organisations are highly involved in this kind of agreements. In perspective of the limited partnership agreements different partnership are noticed to carry out day to day business management oriented activities (Mujuru 2013).
Limited liability partnership- the limited liability partnership is a form of agreement between the different limited and general business partners. Generally In the concept of limited liability the all business partners are liable to carry out limited business activities.
Basically for the Energy company which has its business operation in the UK is estimated to follow the Limited liability partnership where one or many other people described as business partners are held responsible for different kinds of debts and well as different business obligations. Through the limited form of partnership the company is able to gain a certain percentage of their contribution to the partnership agreement for a lifetime and has also gained the capability to make perfect management of business. Through the limited partnership agreement the Energy Company of UK has now become applicable to handle all kinds of business amount that are still unpaid and make different commitment while taking part in different management activities (Akukwe, 2014).
The Energy Company is a famous utility company which has its operation in the country of UK as well as in other countries from the past ten years. The Energy Company is mainly found to have implemented about sixteen thousand employees and has in total of three million customers also with an enhanced form of production aptitude around 5000 Mw. It also possesses a capacity of about 8000M in all its business overseas (Effah, 2014). The partnership agreement that was made in Generation business of 1995 was found that the company had to sign an agreement for performing specifically in only one division.
Partnership in business are basically formed when different level of talents as well as varied knowledge of different working staffs and employees are brought up together to increase the capital in business. Different types of partnership agreements could offer various key success factors to the workplace depending in the flexibility and involvement of the business partners.
In case of general partnerships business, partners equally share the organisational responsibilities in every different business aspect. Subsequently the workforce from both the partner organisations gains the opportunities for effective knowledge development and sharing due to sharing common workplace (Akukwe, 2014). It enhances the opportunities for the staffs of two different organisations to share their good practices and strategies with each other so that a better work efficiency could be gained and subsequently the productivity of the workplace also gets enhanced as well (Mujuru 2013).
However, in case of limited partnership a business shares certain of its business aspects with another organisation for the better enhancement of the outcomes of that specific business context. Thus, in this type of partnership agreements the key success factor for the workplace is the effective care for weaker business segments due to the engagement of specialist partners in that specific business segment (Effah 2014). For example, a bigger retail industry organisation is not able to develop and manage its e-commerce and other online activities on their own and to maintain the efficiency of the online and ecommerce activities it is needed for the organisation to develop partnership with some software development organisation which is specialised for managing these types of technology dependent operations (Mujuru 2013).
In case of limited liability partnership agreements partner organisations look after specific business aspects without interfering in each other’s responsibilities. Thus, in this type of partnership agreement the most significant key success factors for the workplace are less decision making conflicts and specific and specialised management efficiency by specific business partners. Thus, in this type of partnership agreements business partners take the responsibilities o the specific organisational aspects in which they are efficient. Subsequently, effective efficiency and outcomes from every different business segment and workplace could be gained due to relevant segmentation of the operations among the partners (Akukwe, 2014).
The case study of the Energy Co. is a perfect example for the limited liability partnership agreement between Energy Co. and the combined authority of EMA, Amalgamated Engineering and Electrical Union, GMB and UNISON. In this partnership agreement Energy Company has taken the responsibility for operating the Alpha Plant through 90% of its own workforce. Thus, the other partners are only concerned about the outcomes from the plan and enhancement of the hazardous situations through privatizing the plant with Energy Co (Effah 2014). Thus, the partners will be less interfering in the working and management strategies of Energy Co. so that it could enhance the situation and outcomes based on its own efficiency and abilities. Thus, the key success factor for the workplace of the Alpha Plan is that a uniform and experienced management authority is running the operations rather that the conflicts for decision making among the previous multiple authorities. It is effective for the plant and staffs at the workplace for giving more effective outcomes under the specialised guidance of the Energy Co (Akukwe, 2014).
Joint input- partnership among different business partners would not exist is the different business partners would make a decision to withdraw themselves from supplying money through which the business industry would be able to make use of different expensive resources in making production (Effah, 2014).
Difference in gain and failure- this is the most vital characteristics of the partnership concept and in order to make the employees and staffs make their business attain success they should make a share of the profit and loss experienced by the industry.
Supplying assets for production- different types of business assets should be supplied so that industries do not experience any kind of scarcity while making production of different items. The assets and resources that should be supplied to the business industry should possess a juridical personality (Ehret et al 2013).
Joint agency- all business partners possess the capability of making other business partners get involved over the express and implied authority of business industry.
Limited time period- all form of partnership that might be in business context is estimated to be continued to a defined time period. It naturally gets dissolves when one of the business partners withdraws himself from the partnership agreements and incapability of one of the business partners to provide fund increases.
Unlimited liability- all partners including the business partners are held totally liable for the different kinds of business debts and that the industry might experience due to partnership. In perspective of unlimited liability the concept of partnership dos get a chance in settling its obligations which would further be accomplished by making use of the different form of assets with high level of prejudice supplied to the different business creditors (Mujuru 2013).
The concept of partnership possesses certain level of advantages and disadvantages over business industries:
Advantages:
Involvement of partnership concept in business helps in increasing the financial capability of a company or a industry.
for perfect level of partnership in business an exact mixing of the employees skills, and experience of the partners should also be considered so that the working staffs feel valuable and they should be allowed to take part in the different decision making process in order to increase the interest of the employees to work for the organisation (Akukwe 2014).
The concept of partnership increases the personality trait and decreases the informal relations between the two business partners (Effah 2014).
Disadvantages:
The concept of partnership is very much easy to dissolve and is totally unstable in nature.
Through partnership the business industries or organisations are not able to set up a mutual agency and limited liability which further creates a barrier in the process of establishing personal commitment between the two business partners (Ehret et al 2013).
The managers of the trade union congress have stated that efficient form of workplace partnership would only be established by a company or an organisation when the business relationship between the different workers and staff of the company would be totally based on trust and it could be delivered through strong, independent unions who are mainly responsible to represent the work culture of the organisation (Ehret, 2013).
The first and most vital principle as stated by the TUC (trade Union Congress) is to make joint commitment for achieving more amount of business success. For achieving business success it is extremely important for business organisations to make certain level of commitment like the business staffs and employees needs to work hard so that they could accept hard challenges in proving their capabilities and overcome the fear so that the business staffs could be motivated and the organisation would be able to efficiently meet their business goals (Mujuru, 2013).
Secondly it would be important to let the business unions and working employers get to know each other so that a level of cooperation in working could be established and increase in production level would be experienced by the staffs. When the staffs and employees establish legitimate interest an atmosphere of trust is noticed to get develop within the organisation and all the staffs would freely share their thoughts and ideas (Akukwe 2014).
The third most important principle is the level of commitment made by the staffs and employees for employee security. Employee security is essential for all organisations to make an increase in their production level and high level of employee security would establish a secure environment for workers to stay in such working environment. With increased level of employee security the organisation would get to experience more mount of job seekers through which the production level would get increase and the organisation would make an improvement in its financial base (Effah 2014).
The fourth principle of partnership is to create concern over the quality of work life. Several scholars of work life have suggested that quality of work life is mainly linked with different form of association and satisfaction of the staffs and working employees in relation to wages provided to them, the time period of working in the organisation and the environment within which the staffs and employees needs to work (Ehret, et al 2013).
The next vital principle is the level of transparency and information sharing capability. Transparency is very much vital for all business organisations and companies. Transparency in communication makes all the staffs and employees communicate with each other and create discussion over different activities which would lead the business to success (Mujuru, 2013).
The last vital principle of the partnership includes the concept of making certain level of improvements over business performances. Making improvements in business performance would help in increasing the productivity of the organisation and make the organisation meet certain challenges. Also improvements in business performance would help in making more production and make the company capable in decreasing the employee turnover rate.
Various limitations in partnership that are being experienced by the organisation include:
Problem in withdrawing the investment amount- Investing an amount in business in estimated to be very simple task and in comparison to that withdrawing the input amount is that much difficult. This is because a business partner if wishes to withdraw himself from partnership in business he could not do so unless a decision is received in that context from the other business partners (Mujuru, 2013). The standard form of limitations in perspective of the partnership agreement within workplace in UK is like imposing certain level of restrictions over the former employees who had been working in that particular industry in perspective of the similar employment over the other competitors of the organisation.
Lack of public confidence- partnership in business might suffer a lack of public confidence and often it is noticed that business organisations or industries does not possess any form of legal mechanisms in order to reinforce the vital tools that business industry would likely to make use of. Disclosing the different forms of business affairs is one of the major forms of limitations in partnership.
Limited resources- the concept of partnership could be started by making use of limited resources of business but with time the business industry requires more amount of resources so that the business could be expanded and the capital base of the organisation would be increased (Akukwe, 2014). Limitation in resources is actually the outcomes of personal properties of the different business partners involved in the business activities.
Uncertainty in duration of partnership- the concept of partnership does not follow a perfect concept and it could be resolved at any time. Thus uncertainty leads to serious confusion and the organisation might have to experience significant loss. In legal concept partnership should be resolved when one person wishes to withdraw himself from the bond of partnership, or due to the death of one business partner.
The Singapore food industries was basically found to start its business in the year 1973 and slowly it has now become one of the most famous food industries by making its business presence in the countries of UK, China and even in Australia. The company currently posses an employment structure of about , 2200 employees in Singapore and even in the overseas countries where it has its business. Among the total, about 1, 150 employees are working in the industry of Singapore (Effah 2014). The Singapore food industry (SFI) is mainly noticed to have a flexible wage system and the company has been noticed to follow certain HCM practices which helped the company to handle the different adverse form of events that took place within the last few years and which has resulted in the cutting down of wages of the staffs and employees (Ehret et al 2013). The Singapore food industry is mainly estimated to work on the belief that low competitive base of the industry would make the employers of the organisation more viable in nature. Singapore food industry later introduced a MVC in order to make improvements in its wage structure and for overcoming the business downturns.
In the current era of globalisation and current advanced stage of technological development within the business sectors flexibility in the wage system has become totally common. This system is actually estimated as the system which supplies with better form of opportunities so that the business managers would be able to reward the employees on the basis of activities being carried out by them.
The annual variable component is actually made up of the total wage supplement and with other form of annual bonus at most of time it is noticed that 20% o the annual wage 1-3 months’ salary of the employees are being supplied within this. This component is estimated to create a relationship between the company and the individual performance.
The monthly wage restructuring is actually the total among the percentage of the employee’s whole salary that is received by the individuals. As per the government of UK it has been noticed that the month wage restructure is only for about 10 percent of the whole salary being received. This component allows for cost management estimation that helps in saving jobs.
The flexi work scheme is actually the flexibility supplied within the work schedule to the employees of the organisation and freeness for the employees or the staffs of the company to choose on when they would intend to carry out their activities and within a bandwidth of the period settled by the employers of the industry itself. But in the competitive work environment the resources utilised are estimated to very limited in amount. A flexible working scheme would be established when a short working week would be implemented with a temporary layoff and flexible working arrangements. Also it could be established by making use of different variable components.
Skills redevelopment programs are actually estimated as the vital components for hiring and retaining the existing employees of the organisations or the industry. The different skills redevelopment programs include:
Apprenticeship tax credit training– this a refundable form of tax credit training which mainly helps the business industries and organisations to implement different apprenticeship skill oriented employees. This program is basically being administered through the federal income tax system of the United Kingdom (Effah, 2014).
Labor market agreement program- this is a kind of program where the government of the country is noticed to enable the different business industries make sufficient delivery of the management skills of the employees for several unemployed individuals. Basically this program is carried out for individuals who are eligible for the employment insurance benefits.
Important tools and resources oriented programs- The administration of the literary as well as essential skills have been noticed to make developments of different skills and tools for more learning and supply of training to the employees of the organisations (Ehret, et al 2013).
The skills programme for upgrading and redevelopment is high essential for organisations because it helps the employees learn on how to manage several form of financial downturn that might be experienced by the industry and also receives the opportunity to gain new capabilities in seizing opportunities that would help in bringing developments in business. SPUR is helpful for companies as it helps in reducing the existing level of unemployment and manage high level of manpower that might bring up risk.
For perfect management of the organisation it is important to carry out partnership working and it should be ensured that a cooperation among the business partners exist so that one of the business partner does not feel to withdraw himself from the partnership agreement (Mujuru 2013). It also should be ensured that the employees would be allowed to take part in the decision making process in order to make them feel valuable.
Implications
Certain implication that has been made has been illustrated below:
The success level of the partnership agreement context has been considered viable and has also been estimated to depend largely on the high level of union density by considering the opinions of the employees of the business industry.
The arrangement for partnership agreements would continue till the time when the changes over the management programmes would be implemented within the working practise of the different employees in the industry or organisations.
A perfect approach should be put into practice in order to make changes in the partnership agreement that would be made.
Mutual gains would not be easily established through partnership agreements made.
The business unions who are noticed to have got engaged in the partnership agreement are often noticed to experience certain level of criticism over the unrealistic expectations that they possess.
As per the tripartite agreement in context of employee relation it is important to develop certain forms of pious sacrifice and develop leadership concepts so that the management could look into the various form of activities carried on by the employees of the organisation and also it would be important to establish close form of consultancy along with transparency in communication because transparency would help in resolving serious conflicts that makes the industry experience high level of business risks.
Conclusion
Partnership agreement is very much vital for all business companies to retain their business in the competitive market and n order to make partnership agreements it is important for the business leaders to abide by the different advantages and disadvantages of the partnership agreements so that they might not have to experience serious risks when running the business (Akukwe 2014). The working employees and staffs should be allowed with flexibility in to work in the organisation and even training programs should be organised in order to help the employees develop their existing skills.
References
Akukwe, G. A. (2014). Private Sector Engagement in Education: Conflict-affected and Fragile Contexts.
Effah, J. (2014). Formation and Failure of an E-Marketplace Pioneer in a Developing Country. The Electronic Journal of Information Systems in Developing Countries, 61.
Ehret, M., Kashyap, V., & Wirtz, J. (2013). Business models: Impact on business markets and opportunities for marketing research. Industrial Marketing Management, 42(5), 649-655.
Mujuru, T. A. (2013). Realising partnership needs: a grounded theory of mobile banking service providers in Zimbabwe (Doctoral dissertation, University of Cape Town).
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