A strategic partnership can elevate growth and innovate strategies by combining resources, expertise, and market reach of two or more businesses. It allows businesses to access new markets, increase customer base, and share risks and costs. It can also lead to innovation by combining different perspectives, knowledge, and technologies. For instance, a social network partnering with a business-focused video platform can integrate its back-end advertisement tools to attract small business owners and make it easier for them to run sponsored ads, thus expanding their market reach and innovating their advertising strategy.
How do you select the right partners and pool the best resources? Mutually beneficial relationships...
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