CEOs and boards of directors at every aging services organization should be asking themselves an important question: Can a strategic partnership help my organization realize our goals more rapidly, more realistically, or more effectively?
It’s a simple question, but arriving at an answer that is right for your organization requires analysis and consideration—and then comes the work of actually pursuing a partnership in a way that aligns with your strategic goals.
Where can aging services leaders start? LeadingAge’s Strategic Relationship Development—part of our suite of governance resources designed for aging services organizations. This robust toolkit contains on-demand video modules, downloadable resources, and an assessment tool to help leaders like you decide whether to pursue a strategic relationship with another organization.
The materials answer many common questions and are designed to help chief executives guide their boards through the process of developing the rationale for pursuing a strategic relationship, as well as discerning the correct type of relationship: informal partnership, joint venture, merger, or acquisition.
The resource also explores the steps necessary to evaluate any specific opportunity and make an informed decision about moving forward—including how to craft agreements and establish new corporate structures.
In the current climate, all LeadingAge members can benefit from this information. No longer reserved just for organizations experiencing financial challenges, affiliations can be a smart and strategic option for even the most well-resourced providers.
Our field is rapidly changing and new complexities seem to arrive each week. You don’t have to go it alone. When done well, partnerships and affiliations make organizations stronger and can ensure sustainability for years to come. LeadingAge’s new resource can guide you toward this outcome.
Strategic Relationship Development is just one offering in a robust set of governance resources for providers that I encourage you to explore. Our comprehensive package of products can also help your organization build a stronger board that takes a more active role in strategy development, risk management, resource allocation, and planning.