According to Cohen and Levinthal, considerable in-house expertise, which complements their partner`s technological activities, is a necessary condition for the successful use of technological knowledge and skills outside their borders. [Citation required] Strategic partnerships can develop through outsourcing relationships in which parties seek long-term win-win benefits and innovations based on mutually desired outcomes. Strategic partnerships have also been created to solve many of the company`s business problems. The book Vested: How P&G, McDonald`s and Microsoft are Redefining Winning in Business Relationships presents strategic partnerships in relationships of large-scale outsourcing processes, public-private infrastructure projects, ease management, and supply relationships. Modern strategic purchasing and purchasing processes allow companies to use performance-based business models or the sourcing model to build strategic relationships with suppliers.  The same logic can be applied to a large number of different products, which is worth considering in many situations. If you`re interested in a strategic marketing partnership, you`d like to either look for a speaker to share a customer base with, or a company that works in a related industry and can market your goods or services to a new audience. For the strategic partnership to be effective and work smoothly, each partner`s contributions to the agreement must be clearly documented. In the natural order of things, a situation arises in two different ways.
There is a black and white side in different scenarios.