Solved: Please explain, How Partnering Relationships Add Value

Partnership is nothing but the association of two or more people, groups or organizations to meet certain goal collaboratively to achieve their mutual interests.

Partnering relationship add value in the following ways: –

• It provides access to greater knowledge which helps in mitigating risk and the mistakes done by partners can be reduced.
• Partners will get access to large pool of technical expertise, skills, capabilities etc.
• Partnering relationship help the partners to create more appropriate products and services.
• Cost can be reduced as partners will share the cost.
• Old issues and challenges can be addressed and worked upon effectively.