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Business strategy
When businesses collaborate, is success guaranteed.
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[QUOTE="Phantasm, post: 344318, member: 94599"] People often make the false assumption that business collaborations are beneficial and always lead to success. If collaborations to succeed, companies should consider common aims, well defined expectations and roles, effective communication, trust building, being flexible, allocating resources, risk management and measuring success. It is important for all parties to have aligned goals and objectives. Expectations need to be laid out clearly; roles assigned effectively; communication has to be efficient. Finally trust-building is critical as an aspect of relationship management. Flexibility and adaptability are some of the essential considerations in collaboration. Resource allocation must be done to support joint initiatives. Risky practices need to be managed while effectively assessing the outcomes in order to measure the achievements of a project or organization’s goals. The success of a collaborative effort depends on dedication, consistency and compliance with sound principles. [/QUOTE]
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