Why Explore Candidates for a Business Cooperation?
Why do I need to explore candidate companies for a Business Cooperation? We met these guys at an Event and we had such a good time. Surely it must be enough if it feels good and the other company seems to be good guys?
Well the answer is that you most likely want that the proposed business cooperation shall support your Business Objectives. Thus it will then require that you work with a company that can support you depending on the setup you want to use.
By exploring candidate companies for your Business Cooperation you will find out in advance if they match your list of criteria for the cooperation. Since your time is important to you, you will save time by talking to the right companies or candidates.
Let us look into some aspects you need to cover exploring candidates for a Business Cooperation.
Exploring Candidate Companies for a Business Cooperation
When you explore candidate companies for a Business Cooperation, you must start with what Business Relationship do you need that will support your Business Objective. Consequently the criteria will differ depending on what relationship you want to set up. A Reselling Cooperation is very different from a Technology Cooperation. If you have prepared the case for the Business Cooperation as suggested in this post ‘Prepare Your Company for a Business Cooperation’, you have the list of criteria.
Each candidate company needs to have proven capabilities to support you in the Business Relationship you want.
Capabilities needed by a Candidate Company
- Support the Value Chain needed?
Firstly, is there a match regarding the selected Business Value Chain? The candidate company must have capabilities and experience working with the Business Value Chain in the markets where you want to cooperate.
- Trade Compliance Knowledge
Secondly, does the Candidate Company have the Trade Compliance knowledge and experience to work to together with you now and over time? This capability is very important if you want delivery capabilities in the cooperation.
- A Supply Chain matching the set up?
Thirdly, can they support you as needed with respect to Supply Flows for your markets as needed in the selected business relationships?
- Provide Support & Services as required by the set up?
Furthermore for all products delivered to your markets, can they deliver the expected Support and other Services as required.
- Sustainability of the Candidate Company?
Finally and very important, do the candidate company has the sustainability profile you need? Are they financially stable and do they have a corporate social responsible profile matching yours?
By exploring candidate companies for your proposed Business Cooperation, it will help you to select the right companies and manage the activities to support your Business Objectives. Additionally it will give a good insight in advance of your partner to be in a dynamic and complex environment. Finally it will save you from spending too much time with the wrong candidates.
Some more advice (Links)
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