A consortium is a group of neighbors that is formed to deal with issues related to common property.
A consortium is the union of two or more people who share the same objective or who must resolve common issues. The concept, whose origin dates 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 building, people must make consensual decisions about the problems that concern everyone. If failures occur 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 issue for themselves.
It is common for consortia to be organized under a certain structure that facilitates their operation. In this way, the neighbors must elect a consortium president who is the one who directs the assemblies or is in charge of managing the affairs. This election is usually finalized after a vote among all members.
Consortium in business and finance
In business and finance , a consortium arises from the grouping of several companies with the aim of developing an activity that brings benefits for all . These agreements make it possible to make investments and carry out works that, separately, no company could execute.
It is important to keep in mind that, in a consortium, each company maintains its autonomy and independence. That is why we should not confuse the notion of consortium with the concept of merger , where the union of companies implies the end of the individual existence of each of the participants.
This type of most economic and financial consortium exposed, we have to establish that it has its origin in the decade of the 60s. And it was then that a series of initiatives in this regard were carried out in Brazil with the clear objective of giving itself a necessary boost to the country's economy.
In this way, until now those consortia have been evolving and adapting to the times but have continued to meet their financial objectives in the best possible way for the benefit of those who carry them out.
Consortia provide competitive advantages since expenses and costs are shared by their participants, facilitating the fulfillment of financial objectives.
Transport consortia are frequent.
Organizations that provide services
Likewise, one should not overlook the fact that there are other types of consortia that depend more on government institutions and less on private companies.
These are consortia that offer interesting services to citizens. In this way, we could highlight the Córdoba Tourism Consortium ( Spain ) or the Transport Consortium of the city of Cádiz .
The Consortium Group
In addition to all the above, we would have to highlight the existence of a Spanish musical group called El Consorcio . In 1993 was when, with the help of the singer-songwriter Rosa León , the band was formed, which is made up of several of the members of the famous Mocedades group.
Carlos Zubiaga,Amaya,Estíbaliz eIñaki Uranga son, en concreto, los miembros de este grupo que tiene más de diez álbumes en el mercado, además de diversos recopilatorios. En todos ellos se vienen a recoger multitud de canciones que se hicieron importantes en España y también en Hispanoamérica durante las décadas de los años 30, 40 y 50.