The most common mistake that most business owners make: not working on partnership.Everything do is merely a short-term transaction and non-negotiable deals. But having to work that way cuts longevity and relationships, in short -it lacks foresight. At Present state, We live in a highly-collaborative society and that purpose helps achieve higher goals together.
A strategic partnership (also see strategic alliance) is a relationship between two commercial enterprises, usually formalized by one or more business contracts. A strategic partnership will usually fall short of a legal partnership entity, agency, or corporate affiliate relationship. Strategic partnerships can take on various forms from shake hand agreements, contractual cooperations all the way to equity alliances, either the formation of a Joint venture or cross-holdings in each other.
Typically, two companies form a strategic partnership when each possesses one or more business assets or have expertise that will help the other by enhancing their businesses. Strategic partnerships can develop in outsourcing relationships where the parties desire to achieve long-term “win-win” benefits and innovation based on mutually desired outcomes.