How Do You Spell PRODUCTION-SHARING?

Pronunciation: [pɹədˈʌkʃənʃˈe͡əɹɪŋ] (IPA)

The term "production-sharing" is commonly used in the oil and gas industry and refers to a type of agreement between a government and a private company. The spelling of this word can be broken down into its phonetic components: /prəˈdʌkʃən/ for "production" and /ˈʃeərɪŋ/ for "sharing". The stress falls on the second syllable of "production" and the first syllable of "sharing". The word "production-sharing" is important in the oil and gas industry as it outlines how profits and risks are shared between the government and the private company involved.

PRODUCTION-SHARING Meaning and Definition

  1. Production-sharing is an economic concept and a form of international business cooperation where companies from different countries collaborate to jointly undertake a production process. In this arrangement, each participating company specializes in a specific phase of the production cycle, contributing skills, resources, and expertise to collectively create a final product. The objective of production-sharing is to optimize efficiency, reduce costs, and increase productivity through the sharing of resources and risks.

    In a production-sharing agreement, companies typically divide the production process into different stages. For instance, one company may be responsible for research and development, another for manufacturing, and yet another for marketing and distribution. Each participating entity bears a portion of the costs and enjoys a share of the profits based on their contribution to the production chain. Such agreements are often driven by comparative advantages, allowing each company to focus on its core competencies, thereby enhancing overall productivity.

    Production-sharing arrangements are prevalent in various industries such as manufacturing, automotive, consumer electronics, and pharmaceuticals. They are particularly common in global supply chains, where companies pool their resources and expertise to produce goods and services that meet global demand efficiently and competitively.

    While production-sharing offers numerous benefits, successful collaboration requires effective communication, trust, and coordination between the participating entities. Governments and businesses worldwide have increasingly embraced production-sharing as a strategy to capitalize on global markets, optimize operational efficiency, and foster cross-border economic integration.

Common Misspellings for PRODUCTION-SHARING

  • oroduction-sharing
  • lroduction-sharing
  • -roduction-sharing
  • 0roduction-sharing
  • peoduction-sharing
  • pdoduction-sharing
  • pfoduction-sharing
  • ptoduction-sharing
  • p5oduction-sharing
  • p4oduction-sharing
  • priduction-sharing
  • prkduction-sharing
  • prlduction-sharing
  • prpduction-sharing
  • pr0duction-sharing
  • pr9duction-sharing
  • prosuction-sharing
  • proxuction-sharing
  • procuction-sharing
  • profuction-sharing

Etymology of PRODUCTION-SHARING

The word "production-sharing" combines the roots "production" and "sharing".

The term "production" refers to the process of manufacturing or creating something. It comes from the Latin word "productio", which means "a bringing forth, a producing" and is derived from the verb "produci", meaning "to bring forth, to bear".

The word "sharing" refers to the act of distributing or dividing something among multiple individuals or companies. It comes from the Old English word "scearu", which means "a portion, a division, a share".

When combined, "production-sharing" refers to a business practice where different companies or parties collaborate in the manufacturing or production process, dividing the work or resources involved. This term is often used in the context of international trade and business alliances.

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