Go-it-alone competitive practices are for the scrapbookPartnering opportunities created by the communications and distribution revolution
along with a global explosion in consumption and production are reshaping the
ability of companies to reach larger audiences and acquire value creating resourcesA growing number of countries are announcing international business alliances
Small to large enterprises are discovering partners across the global Internet Nearly
any business conference you attend this year is sure to feature passionate
evangelists espousing the virtues of strategic alliances and economic goodwillShake herePartner or PerishThis fast-growing business climate is focused on collaboration and reciprocation
You can feel it building momentum To survive in today's worldwide growth and
innovation game your company must seek alliances based on compatible
differencesHow do you get into the partnering game? Grow, shape and leverage your goodwill
Grow your goodwill by instituting best practices Prepare your company for future
alliances by using your goodwill to shape a receptive mindset within your
organization Leverage your goodwill to team up with allies and the allies of your
alliesAre you involved in a constructive dialog with one or more potential partners? If not,
what's holding you back? The days of viewing your competitors with distant
suspicion and enmity are over Few enterprises can operate competitively working
out of a cocoonToday, it's not unusual to find one division of a company signing on to an alliance
with a direct competitor of another of its divisions The first rule of this game is: "we
work together, any chance we get, because working together is nearly always
mutually advantageous"Concerned about resistance from inside your organization? Some stakeholders will
support your partnering aims and others will not depending on how they may be
affected Unsupportive stakeholders can kill an alliance before it comes together or
slowly eat away at it over time It no longer makes sense to let internal differences
slow you down If you're future is not in play, be warned Sooner or later, it'll be
partner or perishYour goodwill can make a big difference in dealing with resistance and the
prevention of sabotage It's not just a paper asset It is meant to be actionableLook for silos in your organization Appeal to those individuals using your goodwill
Directly address their contribution to goodwill Be determined to navigate such
situations toward a positive outcome Use the power of your goodwill as a change
management tool to win over as many of your stakeholders as possible Goodwill has profound impact on your equity valueHow does your business acquire goodwill? It cultivates it through best practices,
such as good governance, customer service, efficiency, branding, pricing fairness,
innovation, authenticity, consideration, cooperation, collaboration, thoughtfulness,
decency, understanding, trust and communityThe result is reflected in the valuation of your business reputation as measured by
the loyalty of your customer base and the reliability, stability and good practices of
your management and its employees The dollar amount of your goodwill represents
the excess price over fair market value that you'd expect to get at a takeover of your
companyAlliance minded executives use their goodwill on a daily basis in communicating
with stakeholders Without the consistent expression of goodwill, they know, it is
virtually impossible to sustain a partnering synergy that builds goodwill and benefits
all stakeholders The alternative course may in time result in stagnation and
eventual declineFostering goodwill among your stakeholders prepares your organization for
partnering Your commitment to goodwill drives change and builds value Apply
goodwill on a daily basis It may be your most powerful strategy in preparing for,
processing and succeeding in the formation of alliancesGet them readyHere are three ways goodwill can be used to increase your organization's alliance
receptivity:First, use your business goodwill as a sign of strengthTo achieve a successful transition in a merger, joint venture or other alliance types,
quickly identify and address potential stakeholder resistanceand treat it with
respect Approaching others with respect is not a sign of compromise or weakness
It is a sign of strength No matter how it may be characterized by opponents, your
willingness to extend a hand of friendship can never be leveraged to your detriment,
nor can it be used to silence your views Express your goodwill to create an
interpersonal zone where the exchange of common interests can be presented for
the benefit of all concerned Finding common ground on the basis of mutual respect
allows partnerships to take shapeSecond, use your goodwill to diffuse resistanceYour goodwill is the most common and effective way to diffuse negative
perceptions Reach out to those who are concerned about who will go or how their
job will get done or done well: "I respect your views We'll face it and get through it
together We have the same goals" Goodwill gives you permission to articulate the
needs and goals of your alliance Keep in mind that your business goodwill may be
damaged if this step is not handled well Avoid this step altogether and it may
return to bite you later Use your current goodwill assets to protect your future
goodwillThird, use your goodwill to invigorate your partnering strategyYour next partnership will build its own goodwill At the starting gate its goodwill is
inherited from its partners Good or bad, this asset has a limited shelf life Your
collaborative enterprise -- an innovation development strategy, sales and
distribution alliance, or marketing partnership initiative -- will soon forge its own
goodwill as it builds a bridge to its own identityOn the other side of the goodwill bridge is profit, innovation, synergy, productivity,
mutual understanding and constructive relationships Walk across it every day Look
for ways to express itAretha Franklin sang R-E-S-P-E-C-T in 1967 -- an anthem for respect and
recognition between men and women At the time her call was a plea Today, it's a
requirement Individually and collectively the path of mutual respect promotes
goodwill Use it to embrace compatible differences and reduce incompatible onesDevelop a goodwill practice for building alliances, near and far, for today and
tomorrowShake here
For more information go to Partner | M [http://wwwpartnershipsmediacom/11html]Read the Partner | M blog Synergy UnboundHarvey Kraft is Managing Director of Partner | M -- [http://partnershipsmediacom] -- the California-based marketing consultancy offering executive support for strategic alliances and partnering initiatives Mr Kraft is a skilled partnerships executive and creative marketing director with two decades of senior experience in the media, finance, publishing and wellness sectors Previously he directed research and valuation marketing at media business consultants JupiterKagan, Inc (formerly Kagan Research) He spent his early years at American Express and has assisted executives at Sharp Electronics, Ricoh, CMP Publishing, Macmillan, McGraw-Hill and moreCopyright 2006 Harvey Kraft All rights reserved Permission granted for reprinting by publishers wherein attribution and link are provided
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