Partner of Choice programs become a competitive advantage because they are:
Difficult to imitate (its based on organisational partnering capability that has taken time to acquire and has become embedded)
Rare (few organisations do it well)
Difficult to substitute
Having carried out a thorough assessment of our clients partnering capability, we develop a customised Partner of Choice capability development program which typically includes elements of the following building blocks:
Education in partnering techniques and processes (eg partnering frameworks including governance, partner selection, creating and maintaining high performance partnerships)
Structures (e.g. positioning the alliance outside the standard corporate organisation, partnership portfolio approach & management)
Management competence (eg collaborative leadership skills, partnering knowledge, systems thinking)
A strong partnering reputation brings significant benefits throughout the partnering process. Companies with leading partnering reputations:
Are the first port of call for companies seeking partners—they are approached earlier and offered higher-quality deals
Often negotiate better deal terms and close deals faster, as would-be partners will tolerate greater uncertainty knowing that this particular partner has a track record of success.
May secure greater concessions from potential partners to get the deal done knowing that their chances of success are greater.
Enjoy greater levels of trust which speeds integration
Increase the odds of success because allying companies devote top people to the partnership's ongoing management.