mPartnering Model
Philosophy of Business Partnering
Partnering is a long-term commitment between two or more organizations for the purpose ofachieving specific business objectives by maximizing the effectiveness of each participant's resources. Partners may call themselves partners whether they have a traditional 50/50 equity arrangement, or a 90/10 split of responsibilities and profit or may just have an approach to partnering. Working in a joint venture, partnering alliance or partnership is fast becoming the norm, rather than the exception, for many small business owners. Besides enhancing profitability, it can also be fun.
The relationship is based upon trust, dedication to common goals, and an understanding of each other's individual expectations and values.
Expected benefits include improved efficiency and cost effectiveness, increased opportunity for innovation and the continuous improvement of quality products and services.
Partnerships are driven by elements such as common goals, values trust, commitment and open communication.
Key Elements of MPartnering Philosophy
Long Term Orientation
The relationship should be long term, and the relationship should not be in a state of constant reassessment.
Real Commitment
This must be a real commitment to each other and each other's business objectives. Success is mutual.
Continuous Improvement
There must be continuous, routine feedback in all directions and a clear focus on continuous quality improvement.
Respect and Trust
The relationship is based on trust, sharing information and respecting other parties' need for confidentiality of information.
Strength Based Investment
All parties invest in partnering; each invests the strengths uniquely possessed that can contribute to success.
Expectation Alignment
There must be a mutual exchange and agreement to expectations.
Strategic Synergy
A strategic environment will promote the open exchange and consideration of ideas. Avoid the "not invented here" syndrome. The relationship will combine the resources and knowledge of the partners.
Commensurate Risk Sharing
All parties take appropriate risks commensurate with their rewards and the concepts unique to their partnering relationships.
Equitable Reward Sharing
There must be advantages and opportunities. All parties should expect more than is available in other relationships and commensurate with their investment and risks.
Equity for Mutual Success
All parties must behave as partners. The relationship is based on equity. Success is mutual.
Systemic and Not Individual
The partnering relationship will be systemic in nature. It can not depend solely on individuals.
Seeking Competitive Edge
All parties seek new ways to lower costs and differentiate themselves to gain competitive advantage.
