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Tuesday, June 16, 2009

Simple way to manage Partners/Alliances in business

Over the last 17 years, I have been fortunate enough to successfully manage various partners/alliances around the world. The success of the organizations, which are partnering or forming an alliance, is interdependent on the participating organizations. Hence, one must think in terms of mutual success. Otherwise, the relationship is not sustainable.

I have studied Negotiations at Harvard. However, the most useful thing I found to manage partners is the Rotary's four way test. Here it is:

The Four-Way Test

In 1932, Rotarian Herbert J. Taylor created The Four-Way Test, a code of ethics adopted by Rotary 11 years later. The test, which has been translated into more than 100 languages, asks the following questions:

Of the things we think, say or do

  1. Is it the TRUTH?
  2. Is it FAIR to all concerned?
  3. Will it build GOODWILL and BETTER FRIENDSHIPS?
  4. Will it be BENEFICIAL to all concerned?
Enjoy and pass the test every day:-)