Partnerships between companies, whether they’re in the same field of work or geographically miles apart, are vital aspects of life in the industry of business today. Some of these collaborations can be short-lived and no more than a single operation. Others can be the start to a lifelong relationship and maybe even an eventual merge of companies. Whatever the duration of a partnership, it is clear that being a good partner has become a key commercial asset.
In the global economy, the ability to create and sustain collaborative relationships gives companies a huge advantage. However, too often are top executives devoted more to potential partners in financial terms than in the management of their partnerships in human terms. The main concerns tend to lie in controlling a relationship rather than nurturing it and in short, they fail to develop their company’s collaborative powers resulting in the neglect of a key resource.
To break it down to its simplest form, the fundamental aspects to collaboration can significantly help you to identify and understand what is most important during the selective process of potential relationships. Companies must produce remunerations for each of the partners. However, they are much more than just the deal. They are living systems that evolve progressively in their opportunities. Apart from the obvious reasons they have for entering into a partnership, the connection offers the parties an option for the future, opening new doors and potentially ventures. Furthermore, alliances that both partners ultimately deem successful involve collaboration, rather than just past exchanges. They cannot be controlled by formal systems but require a dense web of interactive connections and internal infrastructure that enhance learning.
Relationships between companies develop and grow in a similar way to relationships between people. No two relationships are the same but successful partnerships tend to follow a similar pattern of phases. Like romances, alliances are built on hopes and dreams; what might happen if certain opportunities are pursued.
At the start of a potential partnership, company leaders don’t know each other well enough to be aware of the potential partner’s subtle differences and their judgment is clouded by the prospect of future success. A selective judgement reinforces dreams and goals rather than potential dangers and risks. Company leaders will hold a selective perception resulting in them seeing only what they want to see and only believing what they want to believe, often realising later on that their fascination with their dreams and goals essentially blinds them to the early warning signs.
The selection process works a lot better and more effectively in the long run if companies observe three key criteria’s.
The effective management of relationships relies on the successful witness of collaborative advantages. To be an effective manager you are required to be sensitive to political, cultural, organizational, and human issues. With these specific requirements come specific skills such as a sense of social understanding and great communication skills, all of which RSVP prides itself upon. In the global economy today, companies are known by the company they keep and as the saying goes, success comes from who you know not just what you know. Collaboration is a key business asset, and knowing how to nurture these relationships is an essential and arguably mandatory managerial skill.