How can complacency or failure to adapt to changed circumstances

Complacency or failure to adapt to changed circumstances can significantly affect the value generation of a strategic partnership. When partners become complacent, they may stop innovating or striving for improvement, which can lead to a decline in the value generated by the partnership. Similarly, if partners fail to adapt to changes in the business environment, the partnership may become less relevant or effective, leading to a decrease in value. Both partners need to be proactive in reassessing and reinventing the partnership as needed, and may need to provide additional training to team members to ensure the partnership continues to generate value.

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Lastly, in the reinvention stage, the partnership may need to be reinvented to the next level or spun off into a separate organization. This will most likely be due to a decline in value generation. The relative interest of strategic partners can also contribute to a decline as complacency or a failure to adapt to changed circumstances can set in. Both partners will need to be proactive to reassess or reinvent, and additional training of team members may be required. Otherwise, the alliance should be closed to avoid unnecessary blame game. (Slide 9)

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Strategic Partnership

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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