1

Voluntary nature

The partners have clear and common goals based on mutual benefit.

2

Common interest

Partnerships is what enables many companies to make continuous improvements. By sharing with others, you can direct your resources and capabilities to projects you consider most important.

3

Synergy

The value added or the total is greater than the sum of its individual parts.  >>>

4

Mutual Dependency

The mutual dependency arises from sharing risks, responsibilities, resources, competencies and benefits.

5

Commitment

Explicit commitment or agreement on the part of the participants.

6

Working together at all levels

The partners work together at all levels and stages, from the design and governance of the initiative to implementation and evaluation.

7

Complementary support

Focus your firm's resources on what you do best and what creates sustainable competitive advantage and tap to the resources of others for the rest. To decide why, when and how to partner with others for complementary resources, weight the small amount of cost savings that doing non-core-competence tasks might bring against the distraction and investment that will be required to stay up to date over time.

8

Shared core competencies and resources

Partnerships are a mechanism to leverage different types of resources and competencies, including, but not only, money.

9

Effective Communication

Communication between strategic business partners should be regular, open, transparent, with accountable structures for joint decision making, problem solving, and conflict resolution.

10

Respect and Trust

Trust between organizations is at the core of today's complex and rapidly changing knowledge economy. It is one of the most efficient mechanisms for governing innovative business partnerships. With trust as a foundation, the companies can share their know-how to achieve synergy.