SG7001 Managing Strategy Operations and Partnerships
Activity 3a
Critical evaluation of the business to business relationships, alliances, and partnerships maintained by the organization
Business to business relationship is commonly known as the B2B business transaction in between two businesses. In such a business the stakeholders play an important role and also the wholesaler plays an important role as well. Business relationship management is the first point of contact with the consumers and is considered a customer-centric activity. Moreover, this involves consumer engagement, and to do that the constant communication is required to fulfill that process as well. Effective business relationship management also tracks all the major business activities and makes those useful for the future as well (Profit, 2021). Furthermore, it can be stated that the business management relation is important for the potential customers, stockbrokers, vendors and service providers, and many more. This increases employee satisfaction, loyalty, and communication process which is important to expand the consumer bases across the globe. Several companies are using AI, Big data and many other technologies that are important for the business and these are also important for the maintenance of ecological aspects as well. It is important to have etiquette knowledge regarding the data analysis and other staff as well.
An effective alliance helps to gain global access to the global market (Delaney, 2019). In such scenarios, strategic alliances play an important role to expand the overall business activity. It is considered as the threshold to get an entry to the new market. Moreover, it requires critical thinking skills and finally, it requires the understanding of the share market and stock market as well. The business partnership helps the organization to gain more expertise, knowledge, and several resources that are available for making different products and for some greater audiences.
Activity 3b
Proposed recommendation for the operation and evaluation of the impact of your recommendation on stakeholders
| Recommendation | It is important for the organization to be more active with the consumers of the organization, this will increase consumer communication as well. In order to improve the partnership capability the organization needs to provide the equal values of the shares. On the other hand, it is evident to have a partner who has some basic skills as well. More importantly, all the partners need to agree with the common goal that will also increase the brand value to attain the organization goal. |
| Justification | This is important because the business partnership is dependable upn the multiple shares and in order to run the business effectively communication in between them need to be very much effective as well. |
| Potential implications- This should consider risks and impact on at least 3 stakeholders.
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Consumers: Consumers are considered as the key stakeholders for any business. Consumer engagement is the key to success while doing business in the market. From this above analysis it has been identified that the organization needs to do the consumer engagement in an effective way so that they could get to know about the company and get attracted with the upcoming offers. Eventually consumers will rely on the brand.
Suppliers: In order to conduct the business in the market the organization always needs to maintain price at the market level. If they are able to provide a cheaper price than other companies, consumers will eventually look into their product and for that purpose the organization needs to look out for the cheap suppliers.
Government: Government is another major stakeholder in any business. The government needs to provide orientation programs to all the companies so that they can manage the business in an effective way. |
Table 1: Proposed recommendation for the operation and evaluation
(Source: Developed by author)
Reference List
Delaney, L., 2019. How Do Global Strategic Alliances Work?. [online] The Balance Small Business. Available at: <https://www.thebalancesmb.com/global-strategic-alliances-advantages-and-disadvantages-1953552> [Accessed 23 July 2021].
Profit, 2021. The importance of Partnership in business. [online] Profit. Available at: <https://www.profit.co/blog/the-alphabet-p/partnership/the-importance-of-partnership-in-business/#:~:text=Partnerships%20increase%20your%20lease%20of,your%20business%20to%20great%20heights.&text=The%20right%20business%20partnership%20will%20enhance%20the%20ethos%20of%20your%20firm.> [Accessed 22 July 2021].
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