The Secret Sauce for Successful Collaborations

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Information about The Secret Sauce for Successful Collaborations
Business & Mgmt

Published on March 6, 2014

Author: normaw55

Source: slideshare.net

Description

Partnering and building alliances is the preferred model of business growth for many CEO’s. In a recent survey, 70% of CEOs plan to partner extensively and indeed the top performers among those CEO’s do just that. Partnering leverages the expertise, resources, and talent beyond the walls of a single organization. Yet many companies lack the fundamental skills, capabilities and leadership to collaborate effectively. We have found in our practice that successful collaborative business relationships are built upon four crucial ingredients.

The Secret Sauce for Successful Collaboration Norma Watenpaugh Principal, Phoenix Consulting Group Global Board, ASAP The Secret Sauce for Successful Collaboration 3/6/2014 1

WINNERS COLLABORATE  70% CEO’s intend to partner more extensively  Out performers out partner by 28% IBM Survey 2012 1700 CEO’s in 64 countries  Dutch Tulip Growers who collaborated the most – were the most successful The Secret Sauce to Siccessfi; Collaboration 3/6/2014 2

COLLABORATION IN THE SKILLS GAP  #1 trait CEOS look for in employees; 70% citing it as crucial  #2 fatal flaw in CEOS Hbr.com2014 The Secret Sauce to Siccessfi; Collaboration 3/6/2014 3

Reasons to Partner Innovation Growth New Product Development Expand into new Markets In-Source Innovation Increase Customer Satisfaction Access to IP/Expertise Transform Industries Disruptive Business Models Competitive Advantage Efficiency Logistic Efficiencies Reduce Time to Market Leverage Shared Resources Cost Reduction Geographic Expansion Risk Mitigation Co-Branding The Secret Sauce for Successful Collaboration 3/6/2014

What is a Partner? A collaborative business relationship between two or more entities that share assets, expertise, risks, rewards, and control to create greater value for their customers and for their own organizations than could be efficiently accomplished independently. Transaction Out-sourcing OEM or Licensing Channel Contract Alliances Virtual Joint Venture Joint Venture M&A Degree of Collaboration The Secret Sauce to Siccessfi; Collaboration 3/6/2014 5

Crucial Ingredients Champion Culture Capability Competency The Secret Sauce for Successful Collaboration 3/6/2014 6

SUCCESS BEGINS AT THE TOP STRONG EXECUTIVE SPONSORSHIP IS CRUCIAL • Sets the Strategic Vision • Advocates the Value • Fosters a Culture for Collaboration • Last Stop in Escalation • Organizational Navigator The Secret Sauce for Successful Collaboration 3/6/2014 7

Partner Lifecycle Framework Builds Enabling Business Processes Alliance-Specific Strategy Transform Innovate Exit Launching & Managing Partner Life Cycle Alliance Structuring & Governance Analysis & Selection Building Trust & Value Operational Planning Source: ASAP Handbook of Alliance Management The Secret Sauce to Siccessfi; Collaboration 3/6/2014 8

Alliance Value Prop Operational Plan Individual Roles, Responsibilities, Motivations, Rewards The Secret Sauce for Successful Collaboration Stakeholder Mapping Alliance Strategy Alliance Team Charter Corporate Strategy Executive Sponsor Strategies and Techniques for Alignment 3/6/2014

Innovative Business Model  Lilly Partnership for MDR - Tuberculosis  Defining the Challenge: Patient Compliance and Prevention  Creates a different ecosystem than just ‘cheap drugs” Aspen Pharmacare, SIA Int’l, Purdue University Transfer of Technology & Drug Supply Workplace Awareness & Prevention Int’l Council of Nurses, WHO, World Medical Assoc. US Disease Control and Prevention Treatment, Training & Surveillance Patient Community Support Red Cross, Red Crescent Patient Advocacy TB Alert, TB Survival Project World Economic Forum, Business Alliance to Stop TB The Secret Sauce for Successful Collaboration 3/6/2014 10

WIN/WIN/WIN Partnerships Partner Math: 1 + 1 > 3  How do you benefit from the partnership?  How does your partner benefit?  How does the partnership create greater customer value?  What is the likely result if one of the value propositions is weak? Best Practice Guidance: Three-way value propositions are the foundation of sustainable partnerships The Secret Sauce for Successful Collaboration 3/6/2014 11

PARTNER BUSINESS MODEL DRIVES FINANCIAL VALUE – SOLUTION PROVIDER EXAMPLE Revenue Source Basis Product Resale Margin or Referral Fee 10% of ASP* $50,000 $5,000 Cross Sell Opportunities 10% of ASP $5,000 Customer Training 20% of ASP $10,000 Implementation Services 100% of ASP $50,000 Consulting Services 300% of ASP $150,000 TOTAL Revenue Recognized $220,000 * Average Selling Price The Secret Sauce for Successful Collaboration 3/6/2014 12

Alliance Team Charter  When everyone is on the same page This is the page  Sets up the common vision for the alliance/initiative  Joint team activity- People support what they create  Sets expectations and builds trust  Sets standards for behavior through operating principles

Alliance Core Values/Operating Principles Govern How the Team Works Together and Shapes the Alliance Culture Source: Rolls-Royce Starfish Alliance The Secret Sauce for Successful Collaboration 3/6/2014

Stakeholder Alignment How does behavior change with commitment and accountability? The Secret Sauce for Successful Collaboration 3/6/2014

Competency for Collaboration Soft Skills - Conflict Resolution - Cross Function Team Management - Influencing Others Core Skills - Strategic Alignment - Selection & Qualification - Leading without Authority- - Governance - Problem Solving & Critical Thinking - Alliance Negotiations -Cultural Sensitivity - Co-opetition - Metrics - Fostering Collaboration Business Knowledge Aptitudes - Industry Trends -Lead & Influence - Business Strategy -Take Initiative w/Little Supervision -Marketing Processes -Strategic/Global Thinkers -Sales Processes -Network across Org Boundaries -Change Management -Flexible -Innovative/ Resourceful People Oriented The Secret Sauce for Successful Collaboration 3/6/2014 16

Influences on Culture Leadership Processes Influencers Culture Norms & Values Control Structures Behaviors The Secret Sauce for Successful Collaboration 3/6/2014 17

WHAT IS A CULTURE FOR COLLABORATION  Win-Win Attitude  Empathy  Diversity is the source of Innovation  Confrontation is the starting point for Collaboration  Flexibility  Commitment  Lead with Trust 18

“In the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed.” Charles Darwin The Secret Sauce for Successful Collaboration 3/6/2014 19

Go Forth and Partner and Prosper! The Secret Sauce for Successful Collaboration 1/14/2014 20

We specialize in best practice partner strategies, programs, and marketing. We help companies transform their partnering practices to drive corporate growth, innovation and build shareholder value. Companies we have served: www.phoenixcg.com ph:1 408 848 9514 email: normaw@phoenixcg.com The Secret Sauce to Siccessfi; Collaboration 3/6/2014 21

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