SG7001 Managing Strategy Operations and Partnerships
Activity 3a
Critical evaluation of the business to business relationships, alliances, and partnerships maintained by the organization
Good contact with the consumers makes a better feel with the business relationship as well. More importantly, it has been observed that a wide number of consumers are attracted by maintaining a good relationship with the consumers. In such a situation consumer engagement is important as well. On the other hand, there are several things that need to be considered while comparing the business alliances and moreover, it can be said that business alliances depend upon several important products which are- net income, cash flow, return on the investment, and many more things. According to the McKinsey report, the alliance measures are highly dependent upon the financial fitness as well. The business alliances are also included with skills agreement, defining and measuring progress, and different agreements for all the terms. This is one of the most significant aspects that are considered to enter into a new market to the foreign markets. It helps to gain a wide number of client bases and build up valuable intellectual capital as well.
There are several reasons behind conducting a partnership in a business that is related to it prevents future costs- maintaining the partnership agreement gradually signifies the reduction of cost. A partnership reduces the cost of intellectual property and also some other procedures (Jain, 2020). The most important aspect is a partnership does not require paying taxes rather the overall income “passes through” the other profit and other losses and the individual partners as well. Having a partnership in a business the most important thing is the financial activities that are shared with the partner, hence the financial activity can be managed in an efficient way.
Activity 3a
Proposed recommendation for the operation and evaluation of the impact of your recommendation on stakeholders
| Recommendation | An organization always needs to put importance on all its stakeholders. Generally, stakeholders are involved with the consumers, governments, employees, and many others as well. It is important for an organization to develop a team that includes different relevant groups and identifies different individuals with whom the stakeholder’s group conduct and it helps to conduct recruitment processes as well. For any organization it is important to engage in communication with their stakeholders irrespective of consumers, employers and governments and other important individuals. At the same time it is important for the company to conduct a market research, to understand the demand of the market. Simultaneously, the organization need to improve the business partnership as well because this also helps to grow and work together that shares the profit or commissions. |
| Justification | There is a huge importance of making proper consumer engagement because this helps the organization to connect with the market in an effective way. Moreover, while having a good partnership in a business deal it helps the company to expand their market on a lrge scale. Not only that this also helps to increase the brand image as well. |
| Potential implications. This should consider
risks and impact on at least 3 stakeholders.
|
Customers: Customers are the key aspect for any business. For any business it is important to understand the need of the consumers and based on that they need to develop their strategies and improve the business as well.
Suppliers: In such a competitive market it important to provide quality product at a cheap price. Consumers are ready to get a deal at a cheap price hence, the organziaiton needs to deal with such suppliers who could provide the best deal by maintaining the quality as well. Investors: Investors need to understand the needs of the market and they should invest in those products which will only be effective in respect to the market. |
Table 1: Major recommendation for the evaluation and operation
(Source: Developed by author)
Reference List
Jain, R., 2020. Why are Business Partnerships Important? – JungleWorks. [online] JungleWorks. Available at: <https://jungleworks.com/why-are-business-partnerships-important/> [Accessed 26 July 2021].
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