shared (adjective, shared, \ ˈʃerd \) expectations (noun, ex-pec-ta-tions, \ ˌekspekˈteɪʃənz \)
Definition: represent a mutual understanding of the problems, needs, and requirements between clients and suppliers, or among different levels of management and employees. Having shared expectations is essential in setting up a solid foundation for building a rewarding and profitable relationship between the two parties in the future. To aid in establishing such an understanding, the two sides usually need to have a facilitated dialogue where both explain what they want and expect from each other during the entire course of their partnership.
In a Sentence:
- The manager admitted that his branch owned the bulk of its success to the fact that they were able to establish shared expectations with their biggest clients from the get-go.
- Recently I’ve been very unsatisfied with my Internet provider’s services, as it seems we don’t have shared expectations about what a proper Internet connection is.
- Having shared expectations with our business partners allowed us to close the deal by the end of the month and advance to the manufacturing process.
Synonyms and related words: shared values, expectations hypothesis, rational expectations hypothesis, reasonable expectations doctrine