5 Tips To Improve Business Relationships

Establishing and maintaining good business relationships is a continual challenge for most organizations in the best of times. With the increased pace of business in today’s fast-changing global economy, business priorities and demands are growing and shifting more frequently, which significantly impact service providers such as IT departments. This is forcing organizations to take a hard look at how all departments interact to ensure success. The goal of Business Relationship Management (BRM) is to help business partners understand that by improving their relationships, it will positively impact the overall business. Here are five tips to help your organization improve the internal relationship between all departments including IT:
1. Commit to developing a strong business relationship between all internal partners
Initiate a Business Relationship Manager (BR) or division role within your organization. Providers and business partners often have competing strategies and priorities with limited budgets and resources. Departments are trying to do more with less while the overall business has to cope with demands that are increasing due to the necessity to remain competitive and/or grow the business. 2. Determine values
One of the major challenges in ensuring strong and effective business relationships is that the various partners value different things. For some, the primary value is revenue while others place more emphasis on customer experience. The respective values must align with the overall business values, with the ultimate objective to serve customers and their needs. To gain value from the BRM practice, it is imperative that the BR manager understand what each partner values so s/he can determine the most effective course of action.  3. Trust and transparency
Trust and transparency are both key to establishing strong business relationships. Trust erodes when credibility has been shot – this happens when people don’t follow through on promises, when they don’t do what they say, when they are not completely truthful, etc. When these actions take place, partners lose faith in one another and often look for outside sources to guide them. The only way to gain the trust back is to be consistent and open with information and actions. Do what you say you will. Follow through. Through transparency and consistent messaging, the trust will return.
4. Communication
Powerful communication begins with consistent interactions. Communicate clearly and be open and forthcoming with as much information as you can. After each interaction, it is good practice to restate what took place, identify any action items or expectations from the meeting. This helps create accountability and sets expectations. 5. Maintain real understanding between business partners
Establishing regular meetings using agendas will help nurture understanding between parties. Improving relationships is challenging as developing and maintaining positive business relationships takes significant work. When each party meets regularly to understand and agree with actions to take, it leads to a greater degree of mutual accountability and a deeper understanding of opportunities. BRM takes focus, conviction and discipline. When properly designed and implemented, it fosters the development and improvement of business relationships throughout the organization. Launching business relationship management demonstrates to all departments that positive relationships are valued and are the path to success in an organization.

Vía The Pink News Blog https://ift.tt/2HiyrNv

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