Establishing a long term win-win relationship based on mutual trust and teamwork, and on sharing of both risks and rewards. Partnering arrangement can be between labor and management, subordinates and the executive, suppliers and customers, and suppliers and suppliers. The objective is to focus on what each party does best, by sharing financial and other resources, and establishing specific roles for each participant. See also joint venture and strategic alliance.
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The Ideal Business Partner"The ideal business partner is someone who wants you to do something that you already want to do. Such partners might be willing to pay you or help you accomplish your shared goals. Identifying such partners is easier said than done, but often well worth the effort."