Connecting:

To achieve success in today’s volatile economy is viewed by many as simply looking for avenues for survival. In the present context, firms are witnessing dramatic shifts in the competitive landscape with intensified competition and increasing commoditization of offerings. Spurred by visions of a dismal future and haunted by intense competition, companies are rushing to cut costs across the board. At the same time there are others who view this time as opportune to break away from the pack. While others are hunkering down, these few are running forward. How do such organizations deal with the seemingly competing sets of demands of cutting back and investing in the future? What do they do to expand while others contract? What tangible and intangible assets do they leverage to create advantage?  We will discuss how some companies succeed by “shrinking their core and expanding their periphery” whereby they leverage partners for activities close to their core that may be key inputs while at the same time also connecting with others who offer complementary products and services and in turn allow them to expand their periphery of offerings to their customers. We will thus focus in particular on the role of strategic partnerships in driving advantage for firms in these difficult times.

We will start by discussing how firms are now operating in an ever more interconnected world of business in which they have to connect with other organizations up and down the value chain. However, most firms have yet to measure and manage these key strategic relationships.  This session will present the concept of “relational capital” – the idea that firms need to think of their relationships as key assets that must be managed effectively. At the same time, we will discuss how smart firms are strategic about the activities they will externalize and those that they must retain in-house. In looking externally they also distinguish between those ties that are arms-length outsourcing arrangements and those that are strategic partnerships.

We will also discuss how at the same time that strategic partnerships have become central to success in the present economy, there is evidence that more than half of them fail. By reviewing some of the best and worst practices, you will identify and discuss critical factors for the formation and management of successful partnerships. The session will discuss how to manage relationships with customers, suppliers, alliance partners for competitive advantage.  Some of the topics discussed will include:

• The imperatives of relationships
• A classification of different types of alliances and the challenges with each form
• Redefining external relationships: alliances, suppliers, and customers
• Building interpersonal connections: enhancing trust and creating win-win partnerships
• Why alliances fail?
• How to build alliances that work
• How to partner with competitors and win
• Creating trust in win-win alliances
• Managing a network of partnerships

Those firms seeking to make customer centric solutions into something more than just a catchy corporate slogan, have to confront their internal siloes that are typically anchored around products or geography. They face the dilemma of whether to swap out their old siloes with new customer oriented ones or retain the old siloes but then seek out ways to transcend those existing siloes so that they operate in a more synchronous way. This lecture will not only elaborate on when firms should bust old siloes and when they should transcend them, but it will provide a detailed discussion of the tactics to manage such efforts. Managers will learn about to build internal bridges across siloes and gain insights into how to become those effective bridge builders. Some of the topics discussed will include:

• When to bust and when to bridge existing siloes
• Strategies for connecting internal siloes to ensure synchronicity
• Individual strategies for managerial survival on the intersection of siloes
• How to become a bridge builder across siloes

Firms are now operating in an ever more interconnected world of business in which they have to connect with other organizations up and down the value chain. However, most firms have yet to measure and manage these key strategic relationships.  This session will present the concept of “relational capital” – the idea that firms need to think of their relationships as key assets that must be managed effectively.  The session will discuss how to manage relationships with customers, suppliers, alliance partners and across internal business units for competitive advantage.  Some of the topics discussed will include:

• The imperatives of relationships
• Redefining external relationships: alliances, suppliers, and customers
• Transforming internal relationships: cross business unit, mergers and acquisitions
• Building interpersonal connections: enhancing trust and creating win-win partnerships