Your Network is Your Success (or Failure)

J.CJ, Editor, BusinessLeadershipManagement

J.CJ, Editor, BusinessLeadershipManagement

Who you surround yourself with will inadvertently determine your level of success or failure. When big brands like Apple, Sony and Samsung determine their strategic partners in the supply chain, R&D and sales channels, they place themselves at a vantage point of drawing insights from these partners.

Besides informational advantage, aid can also come from partners. As part of a network, strategic partners can benefit from the absorption of shock through a network instead of bearing the brunt all by itself had they been alone. Boeing’s method of having 70% work outsourced in its alliance network, brings partners to take upon themselves an equity stake, bearing the financial responsibility for their end of the project.

That being said, choose wisely and ensure that partners have rewards that commensurate the level of responsibility they bear!

J.CJ

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