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The Benefits of Strategic Partnership

The Benefits of Strategic Partnership. Strategic Partnerships:. What does working in partnership mean? Is it any different from what we’ve been doing in the past?. What is a partnership?. A partnership is: A voluntary/contractual arrangement working cooperatively

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The Benefits of Strategic Partnership

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  1. The Benefits of Strategic Partnership

  2. Strategic Partnerships: • What does working in partnership mean? • Is it any different from what we’ve been doing in the past?

  3. What is a partnership? A partnership is: • A voluntary/contractual arrangement • working cooperatively • shared or compatible objectives • shared authority, responsibility and management for partnered project • joint investment of resources (time, work, funding, material, expertise, information) • shared liability or risk-taking • mutual benefits (win-win situations)

  4. Who are Your partners? • Private sector organizations • non-governmental organizations • client groups • provincial/territorial/municipal governments/ other Government departments and/or agencies

  5. Benefits of Partnerships • Pooling of resources • improved management and understanding of clients • greater operational flexibility • integrated delivery - coordinated efforts • Generate Sales for your business & Web site • Generate Traffic and prospects for your site

  6. What Are the Benefits For Partners? • Develop a wider base of support • access to additional financial & human resources • access to a greater area of expertise • learn more about their target market / specific groups • enhance corporate image and reputation • Better market positioning by “power of association”

  7. Risks of Partnerships • Reduced flexibility in decision-making • loss of control - potential liability, financial risk • blurring of accountability

  8. Challenges • more coordination • more extensive consultation • communications • managing risks and maximizing benefits

  9. Possible risks in partnerships • real or perceived conflicts of interest or public embarrassment • credibility and image • contradicting messages

  10. How do you find partners? • companies approach you • you seek partners • a current partner may bring in other(s) • Query the search engines under your industry, product type, area of expertise etc • Trade shows, conferences and exhibitions • Journals, magazines, Chamber of commerce

  11. Choosing the Right Partner • Work with firms that help increase awareness and change attitudes and behaviour with respect to the identified goals of your organisation • avoid partnering with companies whose reputations / products / services contradict your messages or the impact you’ve achieved over the years

  12. Evaluation • partnerships are closely monitored from development through execution • key indicators of success - distribution, reach, funds raised, and feedback (informal and formal) • contractual arrangements developed to ensure that your corporate objectives (and accountabilities) are met

  13. Reasons to join To get FREE marketing content To get free downloads To get discounts on our services To get access to our resource centre Many other Power points in this series in the download area

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