Developing Strategic Partnerships
While I reviewed the assigned reading from chapter 14, “Don’t Be Afraid to Develop Strategic Partnerships” of “It’s a Jungle In There” I must define Strategic Partnerships. According to the Cambridge Dictionary, Strategic Partnerships are “an arrangement between two companies or organizations to help each other or work together, to make it easier for each of them to achieve the things they want to achieve.” I know for the for-profit businesses or organization the strategic partnerships are welcomed, certainly, if there is a significant profit that can be generated because of the partnership if the ideas are formed together. I, however, would believe that non-profits can also benefit from these partnerships even though we are geared to a service to the communities.
As I look at strategic alliances from the non-profit side, I would like to talk about a non-profit that is dear to me. I am a member of “The Rotary Club” which we are a group of individuals that build relationships and exchange ideas to advance our communities. As a Rotary Club, we also support our communities with scholarships, feeding the hungry, and raising funds for the needs of others. We also build support for our Rotary International, and Rotary Foundation. As a whole, The Rotary has a multitude of partnerships in which many that also support some of the same community and world initiatives. One of our partners in the quest to rid the world of hunger is The Globe Food Banking Network. The Globe Food Bank Network fights to alleviate global hunger by collaborating to develop food banks in communities where they are needed around the world and by supporting food banks where they exist. As partners in this service, we work hand in hand with each other to help the initiative more connect with our communities. The efforts that both non-profits partnering makes our communities more willing to give for this great cause.
Finally, as I gain an even larger understanding of the importance of partnerships, I recognize that with the right partnerships each organization can grow. As for a non-profit, we can provide an even larger service to a larger area without using all of our resources. According, to Schussler (1994), “With a little creative thinking, you can come up with strategic partnerships to facilitate the creation of a product or service, enhance its quality, and improve your profit margin at the same time.” The process of these collaborations, ultimately saves money, have a broader and more efficient outreach,increased leadership skills,and expands the value proposition,which is essential to be able to touch a multitude of people.
Schussler, Steven (1994). It’s A Jungle In There. New York, NY: Sterling Publishing Co., Inc.
Retrieved from the dictionary.cambridge.org/us/dictionary/english/strategic–partnership