The gift of relationships comes from cultivating shared values that allow for collaboration and unity. There are new models of outsourcing that allows you to take advantage of experts and high value employees without delving into some of the complexities and costs of hiring critical players. Today, everyone benefits from efficiency and automation. We can work together across both the physical and virtual space to streamline and build highly productive companies.
It begins by developing relationships that optimize mutually beneficial collaborations between entities with common missions. Sharing strategies to pursue agreed upon objectives, while remaining independent organizations.
Partnerships can take on a number of objectives and levels of formality depending upon the nature of the agreement, the overall goal of strategic partnerships is to blend and balance the best of many kinds of organizations, from both the public and private sectors.
|Horizontal||Entities in the same area (i.e. competitors) agree to collaborate in a way that will improve their market position.|
|Vertical||A business collaborates with companies in its supply chain (its suppliers and/or distributors). Vertical partnerships often allow businesses to minimize risk in the supply chain and obtain lower prices in exchange for long-term commitment. Also known as channel partnerships or supply chain partnerships.|
|Intersectional||Entities from different areas agree to share their special knowledge for the advancement of all partners.|
|Joint Venture||Two or more organizations form a new company. The new company is its own legal entity, and its profits are split according to terms spelled out in a formal contract.|
|Equity||A company acquires a minor equity stake in another business in exchange for a monetary investment. Such exchanges can accompany other types of collaboration and, to a certain extent, agreed-upon access to decision making.|