Today's business environment is global in nature, technology based, and characterized by intense competition and rapid change. In order to improve their chances of survival in the marketplace, companies are turning with increasing frequency to strategic alliances with their suppliers, customers and competitors. This innovative approach allows organizations to share skills and resources, develop new products and technologies and gain access to new markets. When there is a good strategic and operational fit between partners, these cooperative relationships can produce mutual competitive advantage.
In providing an overview of the emerging concept of strategic partnering, this publication discusses the potential benefits and associated risks, the importance of careful partner selection, the use of control mechanisms and the measurement of performance.
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