Another fantastic example of strategic partnership for integration is the agreement between Nike and Apple. Beginning in the early 2000s, Nike and Apple began tying their respective products and technologies to create what would later become Nike. When purchasing fitness shoes and specific clothing, customers can pair their products with their iPhone apple or watch to track their health and achieve other health goals. Once you have found a strategic partner with whom you can work, you must develop and sign a strategic partnership proposal or agreement with them. This type of document can be relatively simple, to extremely complex, depending on the scope of the partnership, the terms of the agreement and the scope of the companies involved. Partnership agreements must be flexible enough to allow for changes in the breadth and nature of support provided by programs based on the different characteristics of partners and the inevitable changing market conditions, new learning changes and strategic change. At the same time, programs must meet donor requirements for transparency and cost-effectiveness, hold partners to account for what they have said, and clearly communicate relationship expectations. This requires a degree of documentation and planning and forecasting, which is usually detailed in the form of a partnership agreement. This note provides an overview of GROW Liberia`s current process to structure partnership agreements. This is what emerges from learning how to deal with the different capabilities and incentives of partners and to ensure a lean but collaborative process.
Many modern companies relocate their accounting entirely to strategic partners. Strategic financial partnerships are useful because, for example, if you use a dedicated accounting company, they can monitor your revenue more strongly than internally. Because finance is essential for every business, strategic financial partnerships are one of the most important relationships you can maintain. You don`t need a monthly shelf life for printer maintenance if you want to save more money by switching to a paperless solution. So reassess the situation before signing up for a strategic partnership. Never enter into an alliance just to say you have a strategic partner. If you are thinking about creating a partnership agreement for business development, you need to ask yourself many questions.