Effective Relationships with Business Partners
by Skillsoft - Business
You have three options when you want to extend your base of business resources: Expand your company acquire another company or partner with a complimentary company. In many instances partnering is the most advantageous choice. Creating an alliance confers the same kind of benefits as an acquisition--but with fewer risks and better definition. The key to creating a successful partnership lies in the ways in which you define the relationship with your partner. The more explicit the definitions the more productive the alliance. Recent research indicates that the most successful business partnerships are built on openness trust and mutual goals.