Identifying potential partnerships and alliances is an important strategic initiative that can truly add value to your business and help you to achieve your goals.
Important considerations include:
- Assessing the capabilities of all parties to deliver
- How formal/information is the relationship? What is it purpose? Will this be a long-term relationship or just a fling?
- How will the relationship be facilitated? Structured?
- What are the values and ethics of this potential partner/alliance? Do they align with those of your organisation?
- What do the parties wish to achieve from the relationship?
- How will the value of the relationship be measured? Demonstrated?
- What IP issues exist? How will these be handled?
Typical partnerships and alliances include:
- Joint ventures
- Strategic alliances
- Technology transfers
- Sales and distribution partnerships
- Joint R&D and product development partnerships
- Outsourced manufacturing and take-off agreements
- Material sourcing and supply chain partnerships
Creating opportunities for people to work together is at the heart of successful and effective collaboration.
What are the possibilities for organisation?