Question

Explain in your own words the following statement: "Strategic partnering is encouraged when two or more business organizations have complementary products or services that would benefit the others."

Answer 1

Answer and explanation:

Strategic partners are individuals or institutions that join efforts to accomplish their objectives. Each company does not lose its independence but is subject to a commitment to helping other organizations to take advantage of useful resources the company can offer.

Regardless of the type of business the individuals or organizations conduct, the partnering can be beneficial. If the organization offer products that are complementary the partnering can be even more productive since those goods can be provided bundled which is likely to boost both parties' profits.