Companies form partnerships for many reasons: for example, a company may create alliances to optimize its business models, reduce risk, or acquire resources. Such partnerships are becoming the cornerstone of many contemporary business models.
Austin discusses the benefits of two major partnerships, one with General Mills and one with ThinkFoodGroup. Think about Austin’s experiences with these partners, and then consider what partnerships you may need to be successful with your new idea.
KEY PARTNERSHIPS: Describes the network of suppliers and partners that make a business model work.
After reviewing the above definition, answer the following questions:
What have you learned from the Tio case to help you develop strong partnerships in the future?
Who are your Key Partners? Why?
Who are your Key Suppliers? Why?