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Engagement Summaries |
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Clarifying Business Strategies & Synergies Saves Partnership
& Create Value For Two Partners
How An Objective Discussion Of Business Strategies
And Goals Saved A Strategic Partnership!
The Situation: |
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• Two companies are seeking to rejuvenate growth in a toughening
market
• The first is one of the largest retailers in North America
• The second is one of the largest manufacturers in the world
• Both entered into a joint venture quickly to seize an emerging
opportunity
• The two cultures clash, opportunities are being lost on a daily basis
• Both CEOs are ready to walk away
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The Challenge: |
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• Determine if there is common ground and long-term profit
potential for both players
• If so, find a way of merging two very different operating
styles & cultures
• Move quickly to avoid further damage to the relationship
• Stop erosion of both reputations
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The Solution |
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• Quickly conduct an objective assessment of the situation
— Marketplace & financial conditions
— The assumptions each player brought to the partnership
— Estimate long-term benefits of rebuilding the partnership
• Meet privately with key principals to discuss the assessment
• Facilitate a two day offsite meeting to jointly find a solution
to not only maintain but to grow the partnership
— Employ the principles of the Harvard Negotiation Model
— Establish the practice of fact-based decision making
— Use skillful discussion techniques to ensure on-going
productive dialogue
— Agree to specific behavior changes
• Implement and communicate a new agreement
• Conduct half-day review meeting at 30 and 90 days
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The Results: |
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• Key misunderstandings identified and resolved
• Business strategies & objectives were clarified
• Both parties enjoy significant increases in revenue, profit,
& customer loyalty
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