Question

There are five founditional elemnts to strategic partnership . How do differ for relational partnership ? Functional partnership ? What if four of the five are strong ? What types of relational is that?

Answer 1

Answer:-

A strategic partnership is a relationship between two commercial enterprises, usually formalized by one or more business contracts geared toward success the goal of maximizing mutual gains by minimizing the inabilities of each partner company.

A relational partnership is one that develops on the premise of a close, personal relationship built on the value of trust. There is an open line of communication between the two parties, unlike strategic partnerships where there is a hierarchical chain of communication where only the higher officials may have access to liaisoning with the other company.

Likeability, for example, is much more important in a relational partnership because competence is viewed as similar (or difficult to differentiate). Competence is key in a functional relationship; fail once and the buyer will go elsewhere. The real key to the last question, then, is which of the five is weak?