Strategic Partnerships Help Industries Weather Tough Times

Some strategic partnerships were created to help industries weather tough times; sometimes those tough times are due to internal issues, sometimes external issues, sometimes uncontrollable circumstances, sometimes extraordinary opportunities, and occasionally in preparation to achieve the next breakthrough. Successful strategic partnerships come in all shapes, sizes, textures, colors and flavors. Nowadays, industry CEOs are using a new application of strategic partnerships that are more inclusive, impactful and ambitious—the sort that moves the needle for entire industries.

Strategic Partnerships With Trade Associations Position Industries For Growth

The good news for business leaders is that strategic partnerships between industries and their trade associations already exist. They lead and convene industries to deliver unified advocacy strategies and convey business outcome-focused messages to government officials. These relationships translate into vital assets to help industries face challenges and position them for growth. For example, recreational boating built its own strategic partnership through its trade association, NMMA, (National Marine Manufacturers Association) and its been highly successful.

Uncertainty Opens Doors For Industry and Trade Association Breakthroughs

Nowadays, there’s a lot of conversation of what cannot be done. Many say we are in uncharted waters, and that is true because uncertainty keeps reaching new orders of magnitude. The Federal Reserve continues to raise interest rates to tame inflation, job openings break new ground surging past 10 million, military conflict persists in Ukraine, gasoline prices are heading higher again. Some say that a longer-term cohesive industry growth strategy is not feasible.

Unleashing Supply Chain Innovation Is a Must

The global economy is making a pivot from just in time to just in case and there are opportunities to unleash supply chain innovation. As noted in a USA WIRE article, supply chain innovation is underway. From the private sector all the way to strategic partnerships between Industries and Trade Associations, collaboration and outside the box thinking is happening in real time.

American Eagle’s Chief Supply Chain Executive Shekar Natarajan is working to unclog retail supply chains and modernize them. The company created a supply chain that can be shared among different companies with an end goal of squeezing out inefficiencies and satisfying customers. It’s a strategic partnership strategy, and it’s a frenemy network too where retail companies share resources to drive down costs and increase efficiencies.

Strategic Partnerships Change the Game for Industries

Some great strategic partnerships were created to weather tough times. COVID-19 was an especially difficult time,  impacting profits, workers, families, and the U.S. economy. Most writing on strategic partnerships focuses on how companies have combined their strengths and mitigated their weaknesses to expand customer bases and achieve far more together than they could separately. However, there are more prodigious, inclusive, and ambitious types of strategic partnerships—the sort that change the game for entire industries. These take shape between industries and their trade associations.

Post Midterms: Clarion Call for Industries and Executives

Forty year high inflation, persistent supply chain challenges, a tight employment market, and the threat of increasing global conflict require far different thinking than at any other time in history. Just as necessity is the mother of invention, these hard times break open the door to strategic partnerships between industries and their trade associations. This is an opportunity and a clarion call for industries and executives.

Reimagining Industry Growth: Groundbreaking New Book Available for Purchase

Reimagining Industry Growth

Arlington, Virginia, January 11, 2022 –  Reimagining Industry Growth, an insightful new book on how to tap into the potential of strategic partnerships with industry associations, is slated for release by Wiley Publishing tomorrow, January 12, 2022. The book provides an overview of strategic partnerships, how they work, and how they can be applied to industry relationships with trade associations. Daniel A. Varroney is the book’s author, and he is the President and CEO of Potomac Core, a strategic consulting firm that specializes in association transformation and industry focused strategic partnerships.

Reimagining Industry Growth: Groundbreaking New Book

 

Reimagining Industry Growth

Arlington, Virginia, September 16, 2021 –  Reimagining Industry Growth, an insightful new book on how to tap into the potential of strategic partnerships with industry associations, is slated for release by Wiley Publishing on January 12, 2022. The book offers a blueprint on how to harness the power of leading industry associations as strategic partners. Executives, managers, business leaders of all kinds, business students and professors, and association executives will find the book enlightening. Daniel A. Varroney is the book’s author and is the founder of Potomac Core – Association Consulting, the northern Virginia strategic consulting firm that specializes in association transformation and building industry and association strategic partnerships.