Rule
Successful business relationships should be based on several aspects, such as cooperation in dealing with various issues, constant communication and mutual solving of the problems, agreement on further actions, strategies, and crisis management, cooperation and similar vision of the company development.
Facts
Considering the appeared situation, it may be said that at the beginning of business development Daguin and Faison acted in accordance with the rule. All the problems were solved after mutual decision, Daguin and Faison worked on business development together dealing with various tasks in cooperation. It did not matter for them who performed which tasks as they had common business and they tried to work it effectively with the highest level of benefit. Daguin and Faison cared for their future and registered their business relationships legally having agreed on the possible problems connected with the death of one of the partners as well as the decision of any of them to quit. Daguin and Faison also signed life insurances.
Time passed and after the business flourishing the crisis came. Daguin and Faison worked much to overcome it. During this period the relationships between partners were spoiled. They could not work together on one and the same issue, they started to quarrel about the simplest items, finally, they decided to separate the responsibilities and each of the partners was responsible for a separate aspects. There were periods when they did not speak for weeks and turned to communication only when there was a necessity. Such relationships led to problems in business as working with customers, they were to agree on many details, but they failed.
The business became to fall out and partners could do nothing about it. As a result, Faison decided to sell his part. According to the contract, another side of the agreement (Daguin in this case) could either buy a share of the partner within 30 days for a price he offered or to sell her share. It was a shock for Daguin, but she managed to find a loan and to buy Faison’s part of business. Moreover, Daguin’s daughter expressed her desire to work in the corporation, therefore, it was an additional motivator for Daguin to buy Faison’s share.
Conclusion
Therefore, it may be concluded that Daguin and Faison faced numerous problems in business after they failed to agree on further development of the company. Disagreement in strategic issues and failure to consider the further steps led to the situation which appeared in the company. It was obvious that if the partners failed to agree on the issues and continue working separately, their business would continue to fall out.
Faison was the first who understood that if nothing was done the business would be spoiled completely. The absence of desire to work in team with Daguin was the main factor which predetermined his decision. It should be stated that it was a correct decisions, as the failure to follow the rules of cooperation in business between partners led to such problems. The final outcome of business is not that bad as the corporation remained united in hands of one of founders of the company. 26 years of close work finished with cold separation without any sign of further uniting.