EDOs Should Work on Strategic Relationship Development

Here is the conclusion of a new study released by Deloitte Touche on why companies must adopt a strategic relationship management strategy to serve their global customers effectively:

"The demands of the networked economy mandate a radical change in organization and management mindset. As technology advancements and increased globalization lead to more informed and demanding consumers and investors, companies must find ways to be more flexible and innovative than ever. Leading companies are realizing that they cannot provide the world-class solutions customers demand strictly on their own. More and more frequently, successful players are looking for partners. These companies now face the challenge of how to manage, and even how to think strategically about a profusion of global partners. Companies that develop, build, and manage a portfolio of capability focused relationships that allow them to collaborate innovatively will emerge as winners in this new environment."

This suggests that EDOs will need to move to the same type of model in working effectively with existing companies and new business prospects in the future if they are to succeed to helping them build nw competitive advantage in locations. This new direction will also require a much higher level of regional collaboration by communities within a region to meet local industry needs.

Go here to download the DT report.