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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!
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