Why Manage the Relationship in a Business Cooperation?
Why do I need to Manage the Relationship in a Business Cooperation? We agreed everything when we setup the Relationship.
Well the answer is that the Business Cooperation you just setup represents a significant investment with the purpose to support your Business Objectives. Thus this investment will need some care over time to deliver the result as expected.
A Business Cooperation is also about relationship and trust. Thus you need to put in some effort in securing that the two organizations work as effectively as possible towards the set objective in a complex and dynamic world.
Let us look into some aspects what you need to cover managing the Relationship in a Business Cooperation.
Manage the Relationship in a Business Cooperation
Guide the Teams on both sides
You need to guide the teams on both sides on what are the objective with the cooperation and the agreed ways of working to meet the objective. In case there is an issue raised, you can much quicker sort out the matter if you have built the network and relations.
Secure Updated Collateral’s for the Business Flow
At the setup of the Relationship you had a first common project and launched the cooperation. You need also to secure updated Collateral’s for the Business Flow, as any outdated material will not give any confidence in the cooperation.
Review the Business Regularly
As with most Businesses in a complex and dynamic world, you must on a regular basis review the operation and be able to adjust should it be required. This is also necessary for a Business Cooperation. Thus if you setup a regular Management Business Review to understand if the cooperation is on the right track is a good move. You should have the Review at least yearly.
Managing the Relationship in a Business Cooperation will help you to manage the activities to support your Business Objectives. Additionally it will give a Structure and Guidance for your activities in a dynamic and complex environment. Thus protecting your investment in the Business Cooperation.
Some more advice (Links)
- Video: Manage the Relationship
Learn more at Business Cooperation – Manage the Relationship.
Image Credit: iStock/Daniel Vineyard