• Partnerships often occur in times of crisis or times of great opportunity – periods when the environment is shifting dramatically
• Partnerships and collaborations can take many forms, including:
  • Simple Partnerships
  • Strategic Alliances
  • Corporate Integrations

Partnerships: Costs and Benefits

Partnerships can have significant costs and benefits:

• Potential Costs
  • More time
  • More complex operations
  • “Culture clashes”
  • Some loss of control with shared decision-making
• Potential Benefits
  • Reduced duplication of services and related costs
  • New ideas and services
  • Increased visibility and resources

Lessons Learned about Partnerships

• Thorough business planning and a collective vision are critical for partnerships to be successful.
• Work to build a cohesive group – benefits of the partnership need to be abundantly clear.
• Recruit partners that can add value by providing broader coverage, new resources or new services.
• Investments in technology often lead to increased efficiencies and cost savings.
• Implementing partnerships often takes longer and is more costlier than expected.