What are the benefits of partnering? Describe each step in the partnering model.
Partnering has many benefits. One benefit is that the company will acquire new customers from the new partners following. This will help increase revenue and expand the geographic reach of the company. Also, when you partner with somebody you share resources which can help complete things more effectively. Also, you can extend product lines through partnership collaborations. All of these help the company and can be why somebody decides to partner up. The partnership model starts with drivers or reasons to partner. Those thoughts either go to decide to create a partnership or set expectations of outcomes. The decision to create a partnership then goes to the components, where the joint activities and processes that build the partnership are found. That then leads to outcomes. After the outcomes is the feedback stage.