Our Principle Based Management™ framework is rooted in proven principles that have fueled the ongoing success of Stand Together and our partners. Many of these principles are highlighted throughout the Principle Based Management booklet.
Mutually beneficial partnerships are essential for long-term organizational success. They are necessary for building the culture and capabilities that enable superior value creation. No one can achieve organizational success alone. The more those with a wide variety of advantaged capabilities join together, the more successful they and their organizations can become.
How to create mutually beneficial partnerships
Mutually beneficial and lasting partnerships have three requirements:
1. Shared vision
For any endeavor there must be an understanding of and an agreement on the vision – what participants are jointly trying to accomplish and the best way to do so. The breadth of the shared vision depends on the nature of the endeavor and each party’s role in it. For those responsible for an organization’s success — such as its employees — the full vision should be shared. For more transactional relationships the shared vision could be to make those transactions mutually beneficial. As trust develops, the transactional relationship can evolve into a true partnership where each partner is motivated to help the other succeed and grow.
2. Shared values
Partners share the values necessary for making a joint undertaking successful long-term. At a minimum, these values should include honesty, mutual respect, humility, knowledge-sharing, and a commitment to continual transformation.
3. Complementary capabilities
Each partner brings something unique and significant to the success of the endeavor. When both parties are intellectually honest and transparent regarding their strengths and weaknesses, they can apply comparative advantage to determine the division of labor that will generate the greatest results. Strong partners will achieve more together than they could individually.
To maximize Stand Together’s long-term success, we strive to become the preferred partner of our core constituencies – all those who are important to the success of our vision, such as:
- Employees who are contribution motivated.
- Co-investors who offer their time, talent, and resources.
- Social entrepreneurs who are removing barriers that prevent others from realizing their potential.
Why are partnerships important for nonprofit success?
Developing mutually beneficial partnerships with your core constituencies takes intentional time and effort, and are vital to your long-term success because:
- When you humbly recognize your strengths and limitations you can more effectively partner to magnify your strengths and compensate for your weaknesses.
- Pursuing common goals alongside others helps you achieve more than you could on your own.
- You will attract more unlikely allies and empower more people at a much faster rate.