partnership

Partnership Relationship between two or more persons based on a written, oral, or implied agreement whereby they agree to carry on a trade or business for profit and share the resulting profits

A partnership is a business arrangement where two or more persons agree to share profits, losses, and management responsibilities.

- Used in planning, organizing, and controlling business operations.
- Used when setting KPIs, policies, procedures, and improving processes.

- Example: Management applies **partnership** when designing policies and monitoring performance against targets.

- Why it matters: Improves execution, accountability, and decision speed while reducing operational waste.