Identify a true statement about strategic partnerships.
A) Both the buyers and the sellers in strategic partnerships pursue their own self-interests.
B) Members of strategic partnerships have a high level of dependence on and trust in each other.
C) Strategic partnerships typically have a shorter time horizon than functional relationships.
D) Strategic partnerships have lower levels of risks than functional relationships.
E) In this partnership,buyers and sellers are not locked into a continuing relationship;thus,buyers can switch from one supplier to another to make the best possible deal.

Question

Quizplus · Accepted Answer

Strategic partnerships require a high level of trust and cooperation between members as they work towards a common goal. They also involve a long-term commitment and a shared vision, leading to a high level of dependence on each other. Option A is incorrect as strategic partnerships require both parties to work towards a common goal. Option C is incorrect as strategic partnerships are typically long-term in nature, whereas functional relationships may have a shorter time horizon. Option D is incorrect as strategic partnerships have their own unique risks that both parties must manage. Option E is incorrect as strategic partnerships involve a long-term commitment and a shared vision, and members are not looking to switch from one partner to another.

Identify a True Statement About Strategic Partnerships