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It has become increasingly important and common over the past decade for organizations to develop partnerships or ecosystems with other organizations. These can develop as formal partnerships, where each organization is seeking something tangible such as increased revenue or market share. It’s also common for organizations to create informal partnerships, where a simple call cadence exists to share relevant and new ideas and provide a sounding board for others. For a new executive in role, these partnerships not only support their organization, but they can provide new ideas and an expanded network for the executive to utilize while ramping up.
Seeking out and managing these partnerships (both formal and informal) has become a key part of an executive’s role. This helps the organization, as well as the executive, stay connected and up to date on the latest trends in their markets. However, this also provides the individual executive a great opportunity to build their own network and make new connections that both they and the organization can leverage.