alliances, and other corporate partnerings are fueling the growth
of the world's most successful companies. The demand to deliver
the latest products, more quickly, and at lower prices has never
been greater. Joint ventures and other collaborative business
arrangements are revolutionizing how winning companies compete
because they permit companies to enter new markets and field
can take many forms such as: a strong relationship with a major
customer, a partnership with a distribution source, a relationship
with a supplier of innovation or product, or an alliance in
pursuit of a common goal. Sometimes corporate partners form
a new jointly-owned company. In other instances, one partner
purchases equity in the other company. Usually the relationship
is defined by a contract.
are the quickest way to grow your company, particularly in times
of change. Without implementing difficult and time-consuming
internal changes, a partnering permits you to:
* Move decisively to seize opportunities before they disappear.
* Respond more quickly to change.
* Adapt with greater flexibility.
* Increase your market share.
* Gain access to a new market or beat others to that market.
* Shore up internal weaknesses.
* Gain a new skill or area of competence.
* Succeed when your company lacks key resources.
Out There Has What You Want
what it is, there is always someone who has what you need: More
Customers, Additional Capital, New or Additional Distribution
Channels, Pre-Existing Relationships or Old Fashioned Clout,
Experience with a New Business Model, Agility and Innovation,
New Products or Services, Specialized Knowledge, Expertise or
Experience, Low-Cost or Unique Production Capacity.
can rapidly meet your needs for valuable resources such as more
customers, additional capital, special expertise, new products,
new distribution channels, additional facilities, increased
production capacity, or more personnel.
companies, alliances offer access to new products, innovation,
and marketplace agility, as well as additional ways to bring
new products to the market more quickly with less expense.
benefit from partnerships that can provide capital, credibility,
sales, marketing, product distribution, and manufacturing.
to Changing Markets
It is no
coincidence that corporate partnering is most common in industries
that are experiencing tremendous technological change. In fact,
there is a direct relationship between the rate and scope of
change within an industry and the amount of partnering that
has proven itself to be one of the most powerful business tools
for dealing with fast changing markets, technologies and customers.
As the global economy continues to speed up, partnering is becoming
the weapon of choice for today's successful competitors.