effective partnering for business growthorinal4444

8/6/2019 Effective Partnering for Business Growthorinal4444

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BUILDING POWERFUL BUSINESSRELATIONSHIPS


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The long term growth of a business does notlie in the speed or success of the productitself in the market place, but in building

effective relationships around the productthat will support it through the entireprocess of business growth.

Partnering relationships involve two or more

companies working together to achieve aspecific purpose or toward the attainment ofcommon business objectives


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Business partnering is "thedevelopment of successful, long term,strategic relationships betweencustomers and suppliers, based onachieving best practice and sustainablecompetitive advantage"(Lendrum, 1997).

"Partnering is the process of two ormore entities creating synergisticsolutions to their challenges." (Droli,2007).


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An anxious customer

waiting for his equipment

Effective Business Partnering

Organization Supplying the

goods and services to the

customer

Equipment


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Idea

Challenge

People

synergisticsolutions

product

Customer


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Mission

The mission of Business partnering

consists in "creating, organizing,developing and enforcing operative

(short-term), tactical(medium-term) and

strategic(long-term) partnerships"

EFFECTIVE:For business partneringto produce effective result it most

pocess the following characteristics:


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CREATE

Create the partnerships: Partners are created, you mustlook for the and initiate the move.

ORGANIZE

Organize the people: gather the people and ororganization and make them work effectively with you.

DEVELOP

Develop the relationships: Relationships are not left tochance you must develop them intentionally

ENFORCE

Enforce the agreements, keep your promises. Operatewith integrity at all times.


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MYSTORY:

GAP

ANALYSIS

Scientificlaboratories

need

Scientific

Equipments

HiltonImports is

born:

I can supply

these

equipments

BUSINESS

IDEA

OPPORTUNITY

Equipments

not availableor

manufactured

in Nigeria :

No problem

Business

Partnering

STRATEGIC

BUSINESS

PARTNERING

PurchaseSupply

Install

Maintenance

agreements

SUPPLY

SYNERGISTIC

SOLUTION HAPPY

CUSTOMER

HAPPYME


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My Success Story: The Hilton Foundation

The Hilton Foundation Scholarship Award

Determine to make a DifferenceGiving back to the society and

community.

If I can make it; you too can make!

My vehicle was business partnering whatis yours?


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The Double 7 Success Factors for effective business partnering As a result of our advising on alliances worldwide, the critical success factors in developing and managing an alliance are: (1) ensuring that there is a viable market opportunity i.e. there.s something of value for both partners and for the ultimate customer (2) shifting mindsets away from e.g. supplier/customer to those that are effective for partnering (3) building trust and credibility quickly; mastering the art of persuasion and influencing (4) having the skills to create and implement an influence plan (5) building with the business partner a shared vision/business objective, which is understood by the staff of both companies (6) defining a balanced set of metrics and allocating responsibility for monitoring each metric between the

parties (7) having a sustainable win-win-win and what this looks like for your organisation, the business partner and the ultimate customer (8) having an up to date legal agreement including protecting each party.s intellectual property rights (9) having a strong sponsor in each organisation with clear roles (10) recognising and managing cultural differences (11) managing changing expectations and having the skills to revitalise long established partnerships (12) learning from examples of other organisations and wanting to exchange knowledge, new insights and innovation with the alliance partner (13) evaluating an alliance regularly and facing up to difficulties (14) checking that both parties continue to be financially viable


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Business Partnering objectives and goals

Skills and Competence needed for

effective solution from all partiesOrganizations Values, Vision and

Direction

Benefits acquiring to all parties


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Reduction of general costs. Competitive advantage. Increased or better opportunities for revenues,

employment and investment generation. A new approach to achieving business

objectives-with a collaborative approach toachieving a shared objective.

Universal application: to build a hospital,

improve an existing service or launch an entirely new product

Each partner may still retain or remain differentand independent.


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Partnering requires all Partners to

transform their businesses in terms of

relationships, behaviors, processes,communications and leadership.

Neither participant can succeed without

the other so the recommended approach

is to implement the transformation as ajoint activity wherever possible.


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The foundation for all effective Business

Partnering activities is anchored on Trust

and IntegrityWithout these two components you will

not last long.

Decide now to operate with absolute

integrity and trust.Remember it is for long term business

success and growth


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Thank you for listening to me!

Hilton Foundation: Determine to make a

difference!

effective partnering for business growthorinal4444

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