Question

list the strategies of choosing a partnership for a software company

what are the benefits of partnership in companies and what are the alternatives ?

Answer 1

STRATEGIES FOR CHOOSING A PARTNER BY SOFTWARE COMPANY:

• A REQUEST FOR PROPOSAL IS CREATED FIRST AND SENT TO DIFFERENT COMPANIES FOR THE RESPONSES. IT SHOULD CONTAIN ALL THE DETAILS TO MAKE THE OTHER COMPANIES UNDERSTAND THE REQUIREMENT WELL.
• EARLY RESEARCH IS DONE. EVERY DETAIL IS BROKEN DOWN INTO DIFFERENT FUNCTIONS AND DEPARTMENT. A DETAILED DOCUMENTED IS CREATED. THIS PROVIDES MORE CLARITY TO THE POTENTIAL PARTNERS.
• REFERENCES AND TESTIMONIALS ARE USED AND ANALYZED. ALSO, THE SCENE BEHIND THE CURTAIN IS ALSO ANALYZED. COMPANY EXPERTISE IS LOOKED UPON BY REVIEWING THE PREVIOUS PROJECTS.
• INQUIRY IS DONE ABOUT THE PAST PERFORMANCES OF THE COMPANY. HOW FAST THEY WERE IN COMPLETING THE PROJECTS AND HOW WELL THEY SOLVED THE PROBLEMS.
• TRANSPARENT COMMUNICATION IS ESTABLISHED WITH THE OTHER FIRMS TELLING THEM ABOUT THE GOALS OF THE BUSINESS, RESOURCES REQUIRED ETC. THIS HELPS THE OTHERS TO UNDERSTAND THE PURPOSE OF THE PARTNERSHIP WELL.

BENEFITS OF PARTNERSHIP TO COMPANIES AND ALTERNATIVES:

IT HELPS TO REDUCE THE GAP BETWEEN THE KNOWLEDGE AND EXPERTISE OF TWO COMPANIES. THIS FURTHER HELPS TO REDUCE THE COSTS. MORE INVESTMENTS ARE INVITED WHICH HELPS IN THE SMOOTH WORKING. MORE GROWTH OPPORTUNITIES ARE THERE WHEN PARTNERSHIP YIELDS PROFITS. ALTERNATIVES TO PARTNERSHIP CAN BE HIRING THE EXPERT WORKERS, OUTSOURCING, FRANCHISING ETC.