Key Partnerships Flashcards
1
Q
What are key partnerships?
A
- The network of suppliers and partners that make the business model work
- Partnerships allow an organisation to optimise their business model, reduce risk and/or acquire resources
2
Q
What are the basic types of KPs?
A
- Strategic alliances between non-competitors
- Cooperation relationship between competitors
- Joint ventures aimed at developing new business
- Buyer-supplier relationships to secure business
3
Q
What are the functional types of KPs?
A
- Cost mitigating
- Value Creating
4
Q
What are cost mitigating KPs?
A
- Those aimed at gaining access to resources or networks that would be costly, time-consuming or unrealisitng to develop from scratch
- These can include those that allow you to achieve economies of scale, reduce your risk, or acquire specialist expertise or skills
5
Q
What are value creating KPs?
A
- Those that increase the value of your venture above and beyond what you are able to generate internally
- Some examples of value-adding partners are special social groups, expert communities and networks, influential individuals, and holders of intellectual property or resources that cannot be replicated
6
Q
What questions are relevant in deciding when to partner?
A
- Are there any gaps in the business model?
- What do you require from them?
- Which specific organisaitons or people could help you fill those gaps?
- Which of these could be realistically engaged as partners?
- Which of these would/would not be viewed desirably by your customers?
- What is your value proposition for them?
- What is the most appropriate kind of relationship for that partner?
- How will you develop the relationship?
