Strategic Partnering

[drdgmmrm]

What are the types of resources and assistance most often sought from partners?
In most instances they fall into five categories.
- Capital. Capital is a resource that is either loaned out in exchange for interest or invested in exchange for equity. Within limits, you can use it to alleviate shortages of other resources.
- Technology and Expertise. You can convert technology and the expertise of your employees into a marketable product.
- Existing Product. Once you convert technology and expertise into a fully developed product, you have something you can sell to a customer. Most products require reasonable manufacturing economies of scale in order to be produced and sold at acceptable prices.
- Manufacturing. Manufacturing requires skill and resources if it is done with the quality and efficiency often demanded by customers.
- Marketing and Distribution (Customers). Without marketing and distribution (i.e. customers), you have no one to pay you in exchange for your product. This is usually the most important resource.
How do you find a partner?
Identify the key resources you need, but lack. This can include customers, additional capital, new products, better products, new distribution channels, expertise, additional facilities, increased production capacity, or more personnel. Look for someone who has what you need. Then ask them for it. But before you ask, you must do one very important thing. Make sure that you have something they need. If you don't take this last step you will end up wasting their time as well as yours. # What are some of the key resources that people often partner to obtain? While this will vary substantially from case to case the most frequent resources are new products, better products, marketplace or product expertise, personnel, capital, distribution channels, production capacity. The most important resource people partner to obtain are customers. You can never be too rich, too thin or have too many customers.
The Dangerous Dozen Common Partnering Mistakes
1. Cutting Yourself Too Good of a Deal. Focus on jointly making money from customers instead of from your partner. It's all too easy to generate grief and bickering when you attempt to do otherwise.
2. Lack of an Exit Strategy. Whoever best plans for the end of a partnering will best benefit from the partnership.
3. Failure to Use Deal Sheets. A Deal Sheet is a non-binding outline that walks you step-by-step through a transaction. One of its key uses is to control your partner's lawyers.
4. Misuse of Lawyers. The function served by lawyers is to look after the many details that can turn around and surprise you. You don't want to under-use or overuse them.
5. Failure to Plan and Then Keep Your Eye on the Ball. Think through your plan before you start. Determine where you want to go, how you will get there, and what you'll do when you do get there.
6. Negotiating From an Ivory Tower. You have to communicate with your people. Don't forget to involve and consult with your line managers and technicians. They know things you don't and can't know.
7. Misplaced Haste. Attempted shortcuts are more than likely to cause delays, or bad deals.
8. Ignoring Details. Details will have a disproportionate impact on the amount of value you capture from a long-term partnership. Make sure you have someone with a firm grasp of the details at the bargaining table and later at the helm.
9. Trapping Yourself into Awkward Positions. Making commitments or creating expectations while thinking on your feet can only lead you into trouble.
10. Impairing Your Ability to "Get Up and Walk." Stay uncommitted until the deal closes. Keep your alternatives open, alive and in play.
11. Ignoring the Foreclosure of Other Opportunities. Whenever you participate in a partnering, you forgo other opportunities. Be aware of what options you may be foreclosing.
12. Wrong Deal, Wrong Partner, Wrong Reasons. A partnering should leave you continuing to provide your contribution to the value chain that distinguishes you from your competitors.

 

[drdgmmrm]

When Do You Need Written HR Policies? (Part 1 of 2)

When was the last time you reviewed your organization's policies? If
you're like many employers, writing or updating policies is at the bottom
of a lengthy "to-do" list. And, you may even question the value of having
written policies because of the apparently conflicting advice concerning
their usefulness.

On one hand, many HR experts advocate having written policies as a
way of communicating your organization's values and practices to
employees. Alternatively, a growing number of attorneys are warning
their clients that poorly drafted policies may land them in court. So,
whom should you believe?

The short answer is both groups. Upon closer consideration, these
positions are not contradictory. Well-written policies can both serve as
an effective communication device and help you stay out of court, or at
least give you a better chance of prevailing. In contrast, poorly executed
policies can create unintended contracts and be used of evidence of
noncompliance in court.

This week's and next week's E-Tips will help define the underlying issues
and make clear why written policies that are carefully developed,
updated, and applied are an effective tool that you need. This week, you
will find out why written policies are important, who needs to have them,
and how to make sure they do not create a contract that you must follow.

Next week, you will learn the difference between supervisory manuals
and employee handbooks and find out which policies every employer
should have.

1. Why are written policies important?

Sound employment policies provide the framework within which an
organization governs its employee relations. A policies and procedures
manual guides both managers and employees as to what is expected
and can prevent misunderstandings about employer policy. In addition,
supervisors and managers are more likely to consistently apply policies
that are clearly communicated in writing.

It is true that written policies, like any record, can be used against an
organization in a lawsuit. Poorly drafted policies often become the main
evidence presented when employees allege that the policies were in fact
a contract that the employer violated. However, policies that are
carefully written so as not to be contracts actually should protect against
these claims and not be a problem. (See number 4, below.) In addition,
carefully written policies can be used to illustrate your commitment to a
positive work environment and nondiscriminatory employment practices.
(See number 3, below.)

2. Are we required to have written policies?

Although written policies in general are not legally required, certain
policies may be mandatory or at least be considered an important
component in helping employers establish good faith compliance with
federal and state law.

For example, the Supreme Court has indicated that employers may
protect themselves against liability for sexual harassment by having
clearly articulated policies against sexual harassment that include
effective complaint procedures. In addition, the Family and Medical
Leave Act requires covered employers to provide written information
regarding employee rights and employer obligations under the Act.
Similarly, certain federal contractors must have written equal
employment opportunity policies. And finally, many state laws require
written harassment policies and policies informing employees about
compensation issues.

 

[drdgmmrm]

THIS WEEK'S E-TIP: Employee Access to Personnel Record Q&A

Q: Do we have to allow our employees (current and former) to look
at and copy their employment records?

A: Personnel records are the property of the employer. Therefore,
you generally have discretion over whether to give employees access to
their personnel files, unless a state law, court, or other government
agency requires access. Federal law does not require you to give
employees access.

However, many organizations, as a good will gesture, allow current
employees to see and even copy their records. This openness usually
reduces employee mistrust and concern about the information in their
files. If your files contain only objective and job-related information, their
contents should not surprise the employee or unnecessarily create the
basis for a legal claim.

Approximately 20 states (including California, Illinois, and Michigan)
require you to give employees, and sometimes former employees,
access to their records. These state laws generally allow a limited
number of inspections per year. Typically, some files, like records
pertaining to future promotion, third-party references, criminal
investigations, and other sensitive information, may be excluded from
inspection. In addition, these laws usually allow you to require written
requests for access to the files. Some states also give employees the
right to copy their records.

In addition to allowing current employees access, a few states give
former employees the right to inspect their files. For example, in Illinois,
former employees can review and copy their file for up to a year after
termination. Still, many employers are concerned that the information
may be used to support a legal claim against them and so prefer to deny
access to former employees. Most employment law experts, also
concerned about the indiscriminate release of information, advise against
giving former employees access unless required by law.

Employees or former employees who sue their employer can usually get
their personnel records, and even other employees' files, in the normal
legal discovery process. For example, if a former employee files a
discrimination claim in federal court, the court can order the employer to
turn over all files related to the former employee and any similarly
situated employees.

So, in establishing your records access policy, you need to address both
your internal corporate operating philosophy and local legal
requirements. But in doing so, remember that even if you limit access,
you may still be compelled to disclose the information in a legal
proceeding.

 

[jitendra05]

What are the types of resources and assistance most often sought from partners?
In most instances they fall into five categories.
- Capital. Capital is a resource that is either loaned out in exchange for interest or invested in exchange for equity. Within limits, you can use it to alleviate shortages of other resources.
- Technology and Expertise. You can convert technology and the expertise of your employees into a marketable product.
- Existing Product. Once you convert technology and expertise into a fully developed product, you have something you can sell to a customer. Most products require reasonable manufacturing economies of scale in order to be produced and sold at acceptable prices.
- Manufacturing. Manufacturing requires skill and resources if it is done with the quality and efficiency often demanded by customers.
- Marketing and Distribution (Customers). Without marketing and distribution (i.e. customers), you have no one to pay you in exchange for your product. This is usually the most important resource.
How do you find a partner?
Identify the key resources you need, but lack. This can include customers, additional capital, new products, better products, new distribution channels, expertise, additional facilities, increased production capacity, or more personnel. Look for someone who has what you need. Then ask them for it. But before you ask, you must do one very important thing. Make sure that you have something they need. If you don't take this last step you will end up wasting their time as well as yours. # What are some of the key resources that people often partner to obtain? While this will vary substantially from case to case the most frequent resources are new products, better products, marketplace or product expertise, personnel, capital, distribution channels, production capacity. The most important resource people partner to obtain are customers. You can never be too rich, too thin or have too many customers.
The Dangerous Dozen Common Partnering Mistakes
1. Cutting Yourself Too Good of a Deal. Focus on jointly making money from customers instead of from your partner. It's all too easy to generate grief and bickering when you attempt to do otherwise.
2. Lack of an Exit Strategy. Whoever best plans for the end of a partnering will best benefit from the partnership.
3. Failure to Use Deal Sheets. A Deal Sheet is a non-binding outline that walks you step-by-step through a transaction. One of its key uses is to control your partner's lawyers.
4. Misuse of Lawyers. The function served by lawyers is to look after the many details that can turn around and surprise you. You don't want to under-use or overuse them.
5. Failure to Plan and Then Keep Your Eye on the Ball. Think through your plan before you start. Determine where you want to go, how you will get there, and what you'll do when you do get there.
6. Negotiating From an Ivory Tower. You have to communicate with your people. Don't forget to involve and consult with your line managers and technicians. They know things you don't and can't know.
7. Misplaced Haste. Attempted shortcuts are more than likely to cause delays, or bad deals.
8. Ignoring Details. Details will have a disproportionate impact on the amount of value you capture from a long-term partnership. Make sure you have someone with a firm grasp of the details at the bargaining table and later at the helm.
9. Trapping Yourself into Awkward Positions. Making commitments or creating expectations while thinking on your feet can only lead you into trouble.
10. Impairing Your Ability to "Get Up and Walk." Stay uncommitted until the deal closes. Keep your alternatives open, alive and in play.
11. Ignoring the Foreclosure of Other Opportunities. Whenever you participate in a partnering, you forgo other opportunities. Be aware of what options you may be foreclosing.
12. Wrong Deal, Wrong Partner, Wrong Reasons. A partnering should leave you continuing to provide your contribution to the value chain that distinguishes you from your competitors.

Hey friend, as we know that partnering is a ​set up between two ​businesses or ​organizations to ​help each other or ​work together, so it will be easier for each of them to ​accomplish those things they wish to ​achieve. For more details, please check my presentation.