In a strategic partnership, businesses with aligned journeys intertwine their marketing, supply chain, technology integration, manufacturing or a happy combination of these.
Whether you’re a start-up, a growth company or a thriving multi-national, a strategic partnership will add value to your product or service by expanding your company capabilities and offerings far more than you’d otherwise be able to. If the two companies reciprocate each other well enough, they could very well be a ‘match made in heaven’ and ultimately leveraging costs versus return.
In ANY sector this is a popular and incredibly valuable type of alliance.
Have you ever noticed the opening credits of movies? Movies are usually made in a supply chain method; a relatively small production house will film and handle post-production, while the larger studio will deal with financing, marketing, and distributing the film.
Some great examples of winning partnerships:
- Starbucks + Barnes & Nobels Booksellers = Bookstore cafés.
- HP + Disney = Hi-tech Mission: SPACE attraction in the Florida Walt Disney resort.
- Toyota + Lotus = Toyota’s engines made for Lotus sports cars.
- Uber + Spotify = Soundtrack for Your Ride campaign.
- Nike + Apple = Tracking fitness progress and other health goals.
Handing off manufacturing to a dedicated factory solves more than just production and quality, it also handles scaling and business expansion.
Sure, the scope of a healthy partnership, should include performance and financial specifics, a reporting structure and other more complex agreements, but, even before diving into a partnership, due diligence through careful evaluation of benefits and risks is key.
This is precisely what Dynamic Innovations does.
Kieron Swords
+353 (87) 137 7434
kieron@dynamicinnovations.ie
