From forging alliances to leveraging complementary strengths, strategic partnerships have emerged as an important tool for companies to scale their brands and expand their reach in the market. The value of collaborative ventures in generating new ideas, products and services as well as acquiring and retaining more customers has finally come to the forefront as a key business strategy. Here’s how businesses are using the power of collaboration to propel their growth trajectories and unlock new opportunities: 1) The Power of Synergy Imagine the merger of two global giants that are instantly recognised by people in every country on our planet. This was the case with Nike and Apple, whose collaboration resulted in the development of the Nike+ running app. By integrating Apple’s technology with Nike’s athletic expertise, the partnership transformed the way people track their fitness, creating a seamless user experience and opening up new avenues for both companies.…
