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It’s safe to say that if you are working today, you have worked in partnership with someone else. Whether a co-worker, or someone who works in the same industry as you, success today requires partnerships at almost every level. However, in some instances where people should be using partnerships, they are not. This is causing some business problems across industries. Utilizing partnerships effectively helps you, companies, and industries succeed. Read below to learn three ways partnerships help achieve key business initiatives:
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Creates understanding on the role stakeholders play
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When there are multiple stakeholders involved in a process, initiative, or project, we’ve found that there is usually a huge lack of knowledge of what each individual’s role actually is. This causes numerous business challenges, including hindering and slowing down the achievement of business initiatives. By focusing on a “partnership first” approach, you educate everyone involved in the critical role each person plays in success and why each of the roles/steps are necessary.
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Promotes ownership across stakeholders
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Once you take the partnership first approach and create understanding of the role each individual plays, you can then build stronger ownership. Ownership by each stakeholder on their role results in high-level performances that provide high quality work and information. Additionally, building ownership on the overall process or goal is a hugely important element that aids in business success. Ownership instills a sense of responsibility, and the outcomes speak for themselves. (For more information on this subject, view our other blogs.)
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Enables more interoperability
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We can all agree that our world is more intertwined than ever, and the business world is no exception. Interoperability is a huge buzz word in many industries, yet some people struggle to create any within their company. Partnerships are a great way to build successful interoperability into any business process, initiative or goal. Why? Because once you have understanding and ownership, all stakeholders involved are more willing to do pilots, and spend the time working through the nitty gritty details of how to create interoperability between themselves and others. The interoperability created through this partnership first approach has more sustainability since each person involved in the process feels a responsibility to make it successful.
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There are many more ways taking a partnership first approach benefits business initiatives and companies. The three examples above help to illustrate a ripple effect of business success by focusing on individuals. As we’ve talked about in other blogs, helping individuals feel responsibility and ownership, especially to their peers, increases employee ROI, company profits, and employee retention. We encourage you to see where you could be promoting stronger partnerships, especially in areas that involve outside stakeholders.
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Interested in learning more about how partnerships can help your interoperability efforts? Contact our team at Kim@QuantumMark.com today!
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