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Running head: CASE 5 0

Case 5

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Case 5

Key Partnerships

Key partnerships are the relationships that a business has with other business entities, government entities, or other entities that help the business model work. These can be the relationships that a business has with suppliers, manufacturers, and business partners, just to mention a few (youtu.be). Businesses usually form partnerships for various reasons. One of the reason is to optimize expenses. The other reason is to mitigate risk and uncertainties. Business entities also form partnerships to acquire unique resources.

Green Drive Logistics will form strategic alliances with manufacturing entities. These entities will be producing a part of our business product that we may not be able to produce. Green Drive Logistics will also form partnerships with its suppliers. We will build reliable relationships with our suppliers while incorporating vital characteristics such as quality, commitment, and trust to ensure a successful business model.

When forming the partnerships, Green Drive Logistics will keep in mind the following factors:

Clear partnership Agreements: We will ensure we have the right partnership agreements drafted as well as legal counsel.

Defining Expectations: Most of the time new entities fail to establish their expectations leading to so much conflict and confusion afterwards (Belyh, 2015). Green Drive Logistics will, therefore, establish its expectations and share them openly with the partners.

Win-Win Situation: We will also ensure that there is a Win-Win situation for the partnerships to be sustainable and healthy.

Impact on the Customers: When forming the partnerships, we will evaluate our value proposition and our key resources and ensure our partners are filling the gaps in either.

Selecting Partnerships: We will also ensure we select the right partnerships. As we all know some partnerships may appear profitable in theory but fail to kick off practically. Additionally, changes in the business context can also make some partnerships irrelevant. In such situations, it is important to terminate these partnerships to avoid further losses and wastage of resources.

References

Belyh, A. (2015). Key Partners in Business Model Canvas. Cleverism. Retrieved from: https://www.cleverism.com/key-partners-in-business-model-canvas/

https://youtu.be/IP0cUBWTgpY