Strategic Partnering Flashcards
What are two constraints that are common in many companies?
Inability to make changes fast enough to meet changing market conditions.
Inability to align their organizations to execute quickly.
Why has partnering become a key to survival?
Broadening the perspective they need in order to close capability gaps, create a sustainable advantage and achieve their strategic goals.
What is a partnership?
Voluntary collaborative agreement between two or more entities. All participants agree to work together to undertake a specific task or achieve a common purpose. All involved parties share risks, responsibilities, resources, competencies and benefits.
What does partnering allow an organization to do?
Respond to change in timely fashion.
Decisively seize short-term opportunities.
Adapt to evolving market trends with greater flexibility.
Acquire needed new products, skills or areas of competence with minimal disruption.
Expand the organization’s market share.
Cut back the number of customer defections.
Access new markets or compete in new industries.
Improve fleet operation and driver productivity.
Shore up internal weaknesses.
How can a partnership with a Fleet management company help lower Total Cost of Ownership?
Lowering cost of acquisition, operation and disposal.
Improving efficiency, compliance and driver performance.
Expand the ability to finance, acquire and deploy fleet related technology.
Create mutual opportunities to co-develop and innovate.
What is the ‘trust Hierarchy’?
The ‘trust Hierarchy’ is not defined in the provided text.
Who should handle an outsourced relationship to ensure that it lasts the wear-and-tear of time?
Manage it from the highest level of operation through a small high caliber team under a senior executive. Team should cover every aspect of the relationship including due diligence processes, contraction, transition planning and supervision.
How should the management team optimize the value derived from the relationship?
Formalizing the management framework.
Forming day to day cross functional operating teams.
Program and project planning and governance.
Creating relationship strategies.
Facts and data base lining.
Ensuring supplier engagement and mobilization.
Developing links between partners.
IT System deployment.
Where does partnership begin?
With identifying your organization’s specific needs.
What is the difference between a strategic partner and a Tactical relationship?
Tactical is short term commitment and strategic is long term approach.
What is a Tactical relationship?
Tactical – deploys resources to repair or improve activities or processes as problems occur.
What is a Strategic Partner?
Strategic – opting for long term stability of strategic relationships.
What are the three partnering strategies?
Window – window to new technologies, best practices or other important industry developments. Helps the organization stay in the flow of new ideas and reduce uncertainty about possible alternatives.
Positioning – when there is a low level of uncertainty and you want to join forces with another firm and create a best in class advantage. Can help achieve scope based advantages, optimize market segmentation.
Options – generate real strategic options for the firm or build a capability platform by creating a combination of people, routines and assets that can be scaled up or down.
What are the positive qualities that successful partnerships are based on?
Common interests, goals and outcomes.
Voluntary relationship.
Shared competencies and resources.
What are some reasons that partnerships fail?
Wrong initial choice of a partner.
Breakdown in trust.
Change in strategy.
Lack of communication.
Running separate systems that were not integrated.
