Partners
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The Importance of Strategic Partnering
Too often, we see organizations focused on “What’s in it
for me,” rather than “What’s in it for us to work together.”
In many of the partnering discussions we are involved in, we see people
focusing on what they want to get out of the partnership, but little time
on how the partnership will work and be sustained. There is insufficient
focus on:
- Why are we doing this with each other? Is this important to each
of us and are we important to each other?
- Are our expectations for the results produced by the partnership aligned?
Do we have different or common goals?
- Are we in this for a short-term very specific focus, or do we want
to have a long-term arrangement that evolves over time?
- Is there real benefit and value to each of us in investing in this
relationship? Are we sharing appropriately in the results of this alliance?
- How does the partnership reinforce and build the business strategy
of each participant? What happens if those strategies should change?
- What commitments are we making assure each partner is successful in
this partnership?
- How do we share information and knowledge with each other?
- How do we grow and learn from the partnership?
- How do we build trust in the relationship?
- Do we have complementary competencies and capabilities that enable
us to build a beneficial relationship?
- How do we manage problems that occur in the alliance? How do we reconcile
differences that occur in the relationship?
- How do we manage changes in expectations or strategy over the term
of the relationship?
- How do we build cooperation in the partnership?
- What level of risk is each of us willing to take in implementing the
partnership? What happens when the risks are too high?
- Do our company cultures and values promote us working well together,
or are they so opposed that we will never collaborate effectively?
- What happens when the original sponsors to the partnership move on?
Can we sustain the partnership without them, or have we lost the motivation
for being partners?
- What is our track record in implementing alliances? What has worked,
what has not? What is our partner’s track record?
- What changes in the environment or the relationship will make the
partnership unacceptable? What changes are allowable?
- In what areas do our partner and we compete? How do we manage those
overlaps? At what point is the overlap intolerable?
- How do we make the relationship sustainable?
In our experience, the process of partners working through these issues
together proves to be valuable in building the relationship and beginning
to establish trust between partners. Addressing each point, discussing
them, and coming to agreement builds the foundation for ongoing success
as well as establishing the plan for execution.
At Harmonix we realize that the establishment of long-term strategic
alliances is mission critical for us, based upon our business model. It
is complex and tough to establish the relationship. It takes time, cooperation
and the commitment of all parties. But by addressing the issues outlined
above and assuring balance in the five critical elements of partnering:
Shared Resources, Shared Risk, Shared Rewards, Shared Vision, and Shared
Values, we help ensure that the partnership is successful in achieving
the goals desired by each party. We choose our Alliance Partners very
carefully as in the end our success or failure is tied to these relationships.
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