ABSTRACT
Collaborating with external partners, suppliers, and ecosystems is critical to innovation success. Successful partnerships accelerate the pace of differentiated and meaningful innovation, combine capabilities so that “the sum is greater than its parts,” expand market reach and distribution, and lessen risk. However, implementing strong partnerships is not easy, and too many ultimately fail. Chapter 3 describes how companies can ensure external partnerships meet expectations by aligning goals, assessing competencies, ensuring culture compatibility, managing complex relationships, and driving necessary organizational change.
