Types of Strategic Business Relationships
On this site, we use the term ‘partnering’ to describe relationships. This is intended to encompass all styles of collaborative and cooperative relationships and is an approach used in all types of relationships.
Typically we refer to a relationship being strategic, where it is crucial to the companies achieving their vision – in these cases, a partnering approach will ensure a stronger probability of longer term success.
There are examples of collaborative partnering relationships in every business sector.
The relationships in the following examples are all strategic to their partner companies and are running as successful relationships.
Examples of Partnering Relationships:
- Alliance: a formal Alliance between an Electricity company and its Field Service Partner company, where both provide people into a common Alliance Team.
- Consortium: a consortium of companies (including specialist Engineering, Project Management and Construction) working together to jointly bid for a large construction project for a Water Utility.
- Informal Collaboration: two complementary Health Sector product providers working together to deliver a wide range of surgical products to Hospitals.
- Joint Venture: between a specialist Marketing and Research company and a large Media company, using the Intellectual Property and products of the former and the large client base and funding from the latter.
- Outsourcing: relationship between food manufacturers and the Service Company providing Sales and Merchandising.
- Off-Shoring: a NZ based Technology Company providing solutions to European Clients, where part of the service solution is Call Centre services (based in NZ) to the Partner Companies end Clients (in Europe).
- PPP: a Public Private Partnership between Government and a Construction firm (who in turn formed an Alliance with other parties) to build a new toll road.
- Sponsorship: the relationship between a Museum and a Construction company, where the sponsorship helped the museum and provided promotional opportunities for the constructions company.
- Shareholders: a partnership between individuals working together to create and grow a business providing retail and other support services to customers.
Strategic relationships require an investment of time, energy, money, people, and other resources. It is prudent therefore to seek specialist advice and independent facilitation to ensure your investment is worthwhile.
Contact us now to explore ideas for improving your strategic relationships, and maximise the value they deliver.
