Organizations around the world establish strategic partnerships to expand geographically, access new products and services and more. Establishing and managing successful strategic partnerships can be vital to an organization’s growth. Unfortunately, countless strategic partnerships have a dismal track record of success. Despite this fact, most partnerships do not craft a formal partnership strategy or build an operational framework to increase the likelihood of success.
While there can be potential disadvantages to strategic partnerships such as uneven control, unequal benefits and reputation damage, a well-structured and well-executed partnership can yield tremendous advantages.
A strategic partnership is a relationship between two or more organizations that enables each to achieve strategic goals neither would be able to achieve separately. These partnerships require methodical planning, focused attention and diligent effort to flourish.
We will use our proprietary Unparalleled Partnerships™ product to build a customized framework to guide your organization through all phases of the strategic partnership lifecycle, including:
- Partnership Opportunity Identification
- Partner Screening
- Partnership Planning
- Partnership Negotiation & Agreement
- Partnership Implementation
- Partnership Performance Evaluation
- Partnership Renewal, Transition or Termination
After implementing the Unparalleled Partnerships™ framework, you will establish more durable relationships where you and your partners work together with a greater commitment to produce significant results for each other. By engaging in more structured and productive partnerships, your organization can:
- expand and enhance its product and service offerings
- improve its brand awareness and image
- reach new markets
- acquire new customers
- gain more resources