Question

There are five founditional elemennt to strategic partnership . How do these differ for relational partnership?

Answer 1

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

strategic partnerships are focused on a narrow range of goals which lead to win-win outcomes. Resources are shared between two companies for the purpose of achieving the goals they are partnering on . It is often used in outsourcing so that both countries benefit from each other’s abilities. Although, there is a commercial alliance on the face between the two parties, such alliance is not build on any model of personal commitments. This is where the different strategic partnerships programmes differ from relational partnership models.

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 in communication where only the higher officials may have access to liaisoning with the other company.