The European Business Review

DIGITAL PARTNERSHIP STRATEGIES REVEALED

Going for partnerships as a strategic option for driving business growth implies adopting a certain mindset: a perspective you take on the relationship between you and other economic actors for creating and capturing value.

Strategic partnerships are not new, but their importance has grown immensely in the digital space. In 2017, McKinsey reported on interviewing 300 CEOs worldwide, across 37 sectors, about digital transformation. One striking observation was that more than 30% of them had cross-industry dynamics top of mind. Many worried that companies from other industries had a clearer insight into their customers than they did.1

So, why not partner up? Digital partnerships are active collaborations between organisations aimed at capitalising on new digital opportunities.

The reality is that no one organisation possesses all the data, digital skills and capabilities to win over today’s demanding and dynamic digital customer. Competition has become a team sport in the digital age. Moreover, your innovation strength as an organisation is limited by your ability to combine your digital assets with those of others .2

Digital innovation is essentially combinatorial in nature. Simply put: You bring your digital assets, I bring mine – and by combining them we can create great new value propositions and business models. Of course, it’s never that simple, but that’s

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