Consortium Abbreviations

The term consortium refers to the union of two or more people who share the same objective or who must resolve issues in common. The concept, whose origin goes back to the Latin word consortĭum , is often used to allude to the group of neighbors who live in the same building.

By living in the same building, people must make consensual decisions on issues that concern everyone. If faults are detected in an elevator, for example, the consortium must decide what to do and how to solve the problem, since no neighbor has the power to define the matter for himself. In this case , consortium can be synonymous with condominium.

It is usual for consortia (or joint owners) to organize themselves according to a certain structure to facilitate their operation. In this way, the neighbors must choose a consortium president who is the one who directs the assemblies and/or is in charge of managing the affairs. This election is generally made by voting among all members.

In business and finance, a consortium arises from the grouping of several companies with the aim of developing an activity that is beneficial to all. These agreements make it possible to make investments and carry out works that, if done separately, no company would be able to carry out.

It is important to bear in mind that, in a consortium, each company maintains its autonomy and independence. Therefore, the concept of consortium should not be confused with the concept of merger, where the union of companies implies the end of the individual existence of each of the participants.

Consortia offer competitive advantages, since expenses and costs are shared by their participants, thus facilitating the achievement of financial objectives.

Consortium refers to the union of two or more people who share the same goal or who must resolve common issues. The concept, whose origin goes back to the Latin word consortĭum, is frequently used to name the group of neighbors who live in the same building.

When living together in the same construction, people must make consensual decisions about the problems that concern everyone. If there are elevator failures, for example, the consortium must decide what to do and how to solve the problem, since no neighbor has the power to define the matter himself.

It is common for consortia to be organized under a certain structure that facilitates their operation. In this way, the residents must elect a consortium president who is the one who directs the assemblies or is in charge of managing the affairs. This election usually takes place after a vote among all the members.

In addition to all the above, we would have to underline the existence of a Spanish musical group called El Consorcio. In 1993 it was when, by the hand of the singer-songwriter Rosa León, the one that is made up of several of the members of the famous Mocedades formation was formed.

Carlos Zubiaga, Amaya, Sergio Blanco, Estíbaliz and Iñaki Uranga are, specifically, the members of this group that has ten albums on the market, in addition to various compilations. In all of them they come to collect a multitude of songs that became important in Spain and also in Latin America during the decades of the thirties, forties and fifties.

In business and finance, a consortium arises from the grouping of several companies with the aim of developing an activity that provides benefits for all. These agreements make it possible to make investments and carry out works that, separately, no company could carry out.

It is important to bear in mind that, in a consortium, each company maintains its autonomy and independence. For this reason, the notion of consortium should not be confused with the concept of merger, where the union of the companies implies the end of the individual existence of each of the participants.

This type of consortium is more economical and financial exposed, we have to establish that it has its origin in the decade of the sixties. And it was then that a series of initiatives in this regard were carried out in Brazil with the clear objective of giving a necessary boost to the country’s economy.

In this way, until now those consortia have evolved and adapted to the times but have continued to meet their financial objectives in the best possible way for those who carry them out.

Consortia provide competitive advantages since expenses and costs are shared by their participants, facilitating the fulfillment of financial objectives.

Likewise, the fact that there are other types of consortia that depend more on government institutions and less on private companies should not be overlooked. These are consortia that offer interesting services to citizens. In this way, we could highlight the Tourism Consortium of Córdoba (Spain) or the Transport Consortium of the city of Cádiz.

List of Acronyms Related to Consortium