Reflections
The Power Of Strategic Partnerships
By Fawzia Ali-Kimanthi
A strategic partner is any business that you enter into a contract with for a mutually beneficial relationship , with the key aim of achieving shared business objectives . A strategic partner is usually a non-competing business . Both businesses share both the risks and rewards of the decision made under the alliance .
Strategic partnerships enable businesses to power on much faster and more impactfully than going at a goal alone . The reason for the catalystic power is because of the following benefits :
• Power of complementarity : Each partner brings to the table their strengths . One partner could bring expertise while another funding ; one partner can bring in a high customer base while the other may provide a new solution that results in customer retention ; both partners can co-fund to build on economies of scale , etc .
• Congruence of goals : Strategic partners have an alignment of business goals and outcomes e . g . grow customers and market share ; enter a new market ; expand to a new segment , providing new products and services , reduce costs , etc . It must deliver a win-win for both partners .
• Compatibility of organizations : A strategic partnership works well when there is an alignment of overall vision . A company that is seeking to transform lives of communities will seek other organizations that seek to do the same ; a company that is seeking to enhance healthcare for children will seek others who are keen to do the same .
To bring to life the power of strategic partnerships , we will demonstrate using a not-for-profit example , to
A strategic partner is any business that you enter into a contract with for a mutually beneficial relationship , with the key aim of achieving shared business objectives . A strategic partner is usually a non-competing business . Both businesses share both the risks and rewards of the decision made under the alliance . Strategic partnerships enable businesses to power on much faster and more impactfully than going at a goal alone . demonstrate how organizations not in the same business sector can come together to transform the lives of Kenyans . I welcome you to read two examples of how strategic partnerships have resulted in great impact and thousands of lives have been transformed .
We start in Kwale County , an area called Kinango , home to Nyalani Dam . The second example takes us to Mukuru Sinai . Here goes …
The Nyalani Dam in Kwale country was built in 1952 by the British Colonial government . Over the years the dam had degenerated rendering it unusable . In the same period , the drought situation in Kinango , Kwale have grown worse year after year . The County Government of Kwale and Red Cross routinely stepped in to provide much needed relief food . The Red Cross realized that this was not sustainable as the drought rendered the people of Kinango poorer . The Red Cross reached out to Safaricom Plc in a bid to establish a more sustainable solution . After a tour of the area , a plan was developed to rehabilitate the dam .
The M-PESA Foundation in partnership with Kenya Red Cross and Kwale County Government rehabilitated the dam at a cost of KES 200m with the County Government adding an additional KES 25m . This was the beginning of the Kinango Integrated Disaster Risk Reduction and Livelihood Program , a program that focused on transforming lives and enhancing livelihoods of drought stricken residents in Kinango . The dam has the capacity to hold 850,000 cubic litres of water for irrigation , livestock and domestic usage . The program executed the following essential elements :
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