The Benefits of Strategic Partnership

1. The Benefits of Strategic Partnership

2. Strategic Partnerships: • What does working in partnership mean? • Is it any different from what we’ve been doing in the past?

3. What is a partnership? A partnership is: • A voluntary/contractual arrangement • working cooperatively • shared or compatible objectives • shared authority, responsibility and management for partnered project • joint investment of resources (time, work, funding, material, expertise, information) • shared liability or risk-taking • mutual benefits (win-win situations)

4. Who are Your partners? • Private sector organizations • non-governmental organizations • client groups • provincial/territorial/municipal governments/ other Government departments and/or agencies

5. Benefits of Partnerships • Pooling of resources • improved management and understanding of clients • greater operational flexibility • integrated delivery - coordinated efforts • Generate Sales for your business & Web site • Generate Traffic and prospects for your site

6. What Are the Benefits For Partners? • Develop a wider base of support • access to additional financial & human resources • access to a greater area of expertise • learn more about their target market / specific groups • enhance corporate image and reputation • Better market positioning by “power of association”

7. Risks of Partnerships • Reduced flexibility in decision-making • loss of control - potential liability, financial risk • blurring of accountability

8. Challenges • more coordination • more extensive consultation • communications • managing risks and maximizing benefits

9. Possible risks in partnerships • real or perceived conflicts of interest or public embarrassment • credibility and image • contradicting messages

10. How do you find partners? • companies approach you • you seek partners • a current partner may bring in other(s) • Query the search engines under your industry, product type, area of expertise etc • Trade shows, conferences and exhibitions • Journals, magazines, Chamber of commerce

11. Choosing the Right Partner • Work with firms that help increase awareness and change attitudes and behaviour with respect to the identified goals of your organisation • avoid partnering with companies whose reputations / products / services contradict your messages or the impact you’ve achieved over the years

12. Evaluation • partnerships are closely monitored from development through execution • key indicators of success - distribution, reach, funds raised, and feedback (informal and formal) • contractual arrangements developed to ensure that your corporate objectives (and accountabilities) are met

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