Business partnerships other than client relationships are an important part of any organization’s initiatives. They can take many different forms and have different definitions, depending on the partners involved.
Business partnerships are mutually beneficial relationships between employers, suppliers, contractors, and/or other stakeholders as partners. They can also include labor organizations and governments. They are purposefully designed cooperative relationships in which partners share values; objectives; human, material or financial resources; and roles and responsibilities in order to achieve desired outcomes.