RUN WITH THE Big dogS™ newsletter
Volume 3, issue 21

Partnerships can be an effective way to extend an organization's effectiveness. Are you getting it off to a proper start?...John

Management idea

Our client has been tracking a new technology for a decade.  The running joke every year was that the technology would hit in five years, a prediction that was echoed every year for a decade.   It didn't make sense to commit to the new technology while the impact was uncertain and the expensive capital equipment became outdated every couple of years. On the other hand, the market could suddenly shift to the new technology with devastating effect.  

The ideal strategic approach was to keep close to the market and rely on a partnership with one of the technology pioneers.  They would bring technical expertise and credibility while our client would bring their market leadership. To accelerate the success of the partnership they brought the principals of both organizations together for an intensive strategic planning process.  

They established partner expectations, reached a common understanding and prioritization of common issues, clarified each other's vision and mission and agreed on a common strategy by painting a shared image of where they wanted to be within five years.  From the shared picture they identified major milestones and three one year strategic goals, each with 4-6 key result measures with accountable individuals.