📖 Read: What you need to consider when planning your strategy?
This step involves strategic decision-making, comprehensive analysis, and the establishment of frameworks that will serve as the cornerstone of your future partnerships. By the end of this step, you'll have a clear path forward to initiate partnerships that align with your business goals.
1️⃣ Partnership Objectives
2️⃣ Risk & Objectives
3️⃣ Value Creation
4️⃣ Partner Type Selection
5️⃣ Partner Strategy Map
6️⃣ Performance Indicator
7️⃣ Business Case
8️⃣ Budget & Management
Partnership Objectives
Define the objectives you aim to achieve with the partnerships. This could include expanding into new markets, leveraging shared resources, or enhancing your service offerings.
Ensure that the partnerships objectives are aligned with the overall company objectives as defined in step 1 (Scope).
Check Step Measurement, Business Level
Risk & Objectives
Conduct a thorough assessment of the potential risks and opportunities associated with each type of partner.
Understand the challenges and benefits that each partner type can bring to your business.
Value Creation
Define how each partnership type will create value, bring mutual benefits, create a competitive advantage, or enhance your position in the market.
Value Creation Targets
Total cost of ownerships | Cycle time | Operations process |
Cost savings | Faster engagement | Increased efficiency |
Cost avoidance | Reduced time to market | Reduced duplication |
Risk and reward | Improved planning | Faster decision-making |
Reduced contingencies | Shorter programs | Improved integration |
Reduced claims | Reduced overruns | Reduced conflict |
Resources | Cycle Specification/Scope | Performance |
Optimized resources | Better value for money | Client confidence |
Reduced management | Optimized standards | Increased effectiveness |
Enhanced capabilities | Integrated solutions | Reduced risk |
Improved competences | Increased innovation | Greater sustainability |
Improved behaviors | Joint research and development | Increased market reach |
(Source: ISO 44002-2019, Collaborative business relationship management systems, Guidelines on the implementation of ISO 44001, Table 14 - Value Creation Targets)
Partner Type Selection (incl. market validation)
Identify the types of partners that will best help meet your partnerships objectives.
Perform a research for available and addressable potential partners.
Create a partner hypothesis for each partner type.
Reach out to potential partners and validate or optimize the partner hypothesis.
Start creating Ideal Partner Profiles based on the research results.
Creating a Partner Strategy Map
Fill out the Partner Strategy Map
Partner Program Performance Indicator
Set measurable and quantifiable key performance indicators (KPIs) for each type of partnership (Partner Program Level). These KPIs will allow you to track the progress and effectiveness of your partnership strategy over time.
Check Step Measurement, Program Level.
Business Case
Compile all of the information and insights gathered to create a compelling business case for your partnerships. This should outline the expected return on investment, the strategic alignment with your business, and the justification for initiating the partnerships.
Budget sign Off and Management Setup
Secure final approval on the partnership strategy and business case from the relevant decision-makers in your organization. Following this sign off, ensure the release of the allocated budget for executing the partnership strategy.
Establish the management that will oversee your partnerships. This includes defining decision-making processes, setting clear roles and responsibilities, and implementing performance review and conflict resolution strategies.