Companies have long entered into strategic partnerships to improve their offerings and offset their costs. The general idea is that two are better than one, and by combining resources, partner companies add benefits to both companies through the alliance. Is your company in a strategic partnership? Tell us how it works for you in the comments below. We would be happy to hear your successes in your strategic partnership. A non-equity alliance occurs when two companies agree on a contractual relationship that allocates resources, assets or other resources. Many examples of strategic partnerships are also considered non-equity alliances. That is also why the various strategic partnerships we mentioned in this article exist between some of the biggest names in the industry. Cooperation in a strategic partnership has worked for major players such as Nokia and Microsoft, and with careful planning, it can also work for your business. It`s about taking the leap and saying, “I`m doing” a strategic partnership agreement. The same logic can be applied to a variety of different products, so it is something worth considering in many situations.
If you are interested in a strategic marketing partnership, you would like to look for either a reference with which you will share a customer base or a company active in a related sector capable of marketing your goods or services to a new target audience. Once you have found a strategic partner with whom you can work, you must develop and sign a strategic partnership proposal or agreement with them. This type of document can be relatively simple, to extremely complex, depending on the scope of the partnership, the terms of the agreement and the scope of the companies involved. Some good examples of strategic partnership agreements between brands, which you may have heard of, are Starbucks in-store coffee shops in Barnes and Nobles, HP and Disney`s ultra-high-tech mission: space attraction and Microsoft`s joint partnership agreement for the construction of Windows Phones. Let`s look at five types of common strategic partnerships and what is taken into account in a typical strategic partnership agreement. It should also be kept in mind that strategic partnerships can also reduce risk. This means, for example, that if you choose a strategic manufacturing partner that manages a plant and insures its employees, you will be dispossessed of responsibility for operating a similar facility. In a strategic partnership model, it`s about pursuing partners, not only because they add value to you, but also because they can benefit from your company`s products, services or notoriety.
Virtually everyone who is someone is partners in one way or another, even if it is not obvious to the public. As part of an ideal partnership, you not only benefit from value-added benefits for your customers, but you also reduce costs. That is why any strategic partnership is ultimately an act of return on investment. Whether you`re a start-up or a growth company, there are many reasons to enter into a strategic partnership agreement. At least a strategic partnership will create added value for your product or service by expanding what you have to offer. A strategic partnership can even be a proverbial “match made in heaven” if the two parties involved replicate well enough. You don`t need a monthly shelf life for printer maintenance if you want to save more money by switching to a paperless solution. So reassess the situation before signing up for a strategic partnership.