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A strategic partnership can significantly contribute to the digital transformation of a company in several ways. Firstly, it can provide access to new technologies and digital expertise that the company may lack. Secondly, it can help in sharing the risks and costs associated with digital transformation. Thirdly, it can enable faster innovation by combining the strengths and resources of both partners. Lastly, it can help in expanding the market reach through the partner's existing digital channels.
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The right business alignment is important for any partnership to succeed. Analyze if the target market, competitive landscape, strengths and weaknesses, and performance of both organizations are the right fit. If so, evaluate development options under specific criteria like resources, capabilities, or ROI with a set time frame and a manageable level of risk. (Slide 9)
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How do you select the right partners and pool the best resources? Mutually beneficial relationships with another organization can elevate growth, inno...
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