From the course: Strategic Partnerships
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Why partnerships are tricky to manage
From the course: Strategic Partnerships
Why partnerships are tricky to manage
- Strategic partnerships are popular and powerful, but they're also tricky to manage. When you tie up with a partner to get something done, it's not business as usual. The heart of the problem is this, after you start working together in partnership things will happen that you did not foresee at the start. New technologies and new competitors may come on the scene and your own goals may change over time. In usual business, when such unforeseen things happen, you simply adjust your plans, but in a partnership, it takes two to change the dance. How do you do that? You can't control your partner's decisions and your contract did not foresee the new events. Without a clear contract or clear control, you are in no man's land. And often the relationship will become more difficult to manage. Take the case of Oracle and Hewlett Packard. These two companies were strong partners for many years. Oracle provided the big data software that ran on Hewlett Packard's computers. But then, things went…
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