Build and Execute Your Partnerships Strategy:
Step-by-Step Plan and Resources
Defining the scope and reach of the partnership operating system
To begin, the organization needs to make a high-level definition of the scope and reach of the partnership operating system, which will determine the impact the partnership strategy will have on the organization, stakeholders, and ecosystem. A company must decide if the purpose of the partnership initiatives shall be co-selling, co-marketing and co-innovating which influences the selection criteria of suitable partner categories and partner types. Also, the geographical and organizational scope of the partnership system needs to be considered. This means that the organization needs to determine which geographical regions and/or business units will be included in the partnership initiatives, as well as whether the partnerships will be focused on specific products or services or will be more general in nature.
Analyzing the business ecosystem, stakeholders, and value potential
By analyzing the context of the organization, the organization can identify potential opportunities and challenges for partnerships, and develop a strategy that takes these factors into account. This will help to ensure that the partnership operating system is aligned with the overall business strategy of the organization, and that it is capable of delivering value to all stakeholders.
Ensuring top management’s commitment, authority, influence, and oversight
Implementing a business-aligned partnership strategy and goals
The planning process should involve all relevant stakeholders, including those who will be responsible for managing and implementing the partnerships. This ensures that all perspectives and concerns are considered, and that the plan is realistic and achievable.
It is also important to include a risk assessment and risk management plan in the strategy plan. This will help to identify and address any potential risks or challenges that may arise during the partnerships, ensuring their success and timely resolution of any issues.
Overall, the planning process is crucial for the success of the partnerships. It is important for the organization to carefully develop a comprehensive plan that takes into account the goals and objectives of the partnerships, as well as the resources and activities required to achieve these goals.
Providing sufficient, timely, and relevant resources to achieve partnership goals
To ensure the success of the partnerships, the organization must provide the necessary resources and support to enable them. This may include financial, human, and technological resources, as well as training and development opportunities for those involved in the partnerships. It is also important to ensure that all stakeholders have the necessary skills, knowledge, and resources to contribute to the success of the partnerships, including through clear communication channels and processes. Tools that support the structure of the organization and partner types need to be selected and implemented. The organization should also provide ongoing support and monitoring of the operational life-cycle to ensure that the partnerships are meeting their goals and objectives and the resources provided are adequate and contribute to the success of the individual partnerships. This may include regular meetings and progress updates, as well as performance evaluations to identify any areas for improvement.
Applying a partner operations playbook with six life-cycle stages for each partnership
Each partnership runs through its own individual operational life-cycle consisting of six operational life-cycle steps. This means that each partnership has its own specific timeline and series of activities that it goes through from beginning to end.
By following these stages and guidelines, organizations can effectively navigate the process of partnering with other organizations to achieve shared goals and create value.
Evaluating the partnerships’ performances to learn and improve the strategy
To continually improve the effectiveness of their partnership operating system, organizations should regularly review and assess the system to identify areas for improvement, as well as address any issues or challenges that may arise during the course of the collaboration. Partnership adequate measurement and key performance indicators can track the progress and effectiveness of the individual partnerships and the entire operating system.
Applying continual improvements to the entire partnership operating system
The performance measurement of the individual partnerships and the partnership operating system is used to inform ongoing improvements to the partnerships strategy and partner operations playbook. This helps to ensure that the partnership operating system is robust, efficient, and effective in supporting the organization’s business objectives. By regularly reviewing and assessing the system, identifying areas for improvement, and involving relevant stakeholders in the improvement process, organizations can continuously evolve and improve their partnership operating system in order to better support their business objectives.
Is Your Organization Ready for Partnerships?
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