Strategic Partnerships

Until recently, businesses thrived on their internal resources. Their ability to house numerous entities within their organization was a strength, and for those who could financially attain it, it was a necessity. However, this practice has dramatically changed. Now, corporations try to keep their on-premise resources efficient, and outsource their needs when they can. Currently, it is crucial for businesses to develop strategic partnerships with other organizations in order to be successful. That being said, it is tremendously important to differentiate just any partnership from strategic ones, as the latter takes a great deal of additional effort and analysis. So why has this significant shift taken place? What are the benefits of strategic partnerships?

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