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Strategic partnerships can significantly align with digital transformation initiatives in several ways. Firstly, they can provide access to new technologies and expertise that an organization might not possess, accelerating the pace of digital transformation. Secondly, strategic partnerships can help share the risks and costs associated with digital transformation initiatives. Lastly, they can enable organizations to leverage their partner's customer base and market presence, thereby enhancing their digital reach and impact.
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However, there is not mutual dependency or complementary support present. In the case of your video platform partnership, this could be because both parties fall into a similar niche and don't have complementary services. And because the video ad tools will be hosted on one platform over another, there is not an equal share of risk and responsibilities.
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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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