Key partners business model
Editor’s note: This article is an update on modelH, the dynamic co-creation forum created by Kevin Riley and Associates, Innovation Excellence, and Batterii where healthcare innovators from around the world are building a foundation for new business models in healthcare. Their goal is to co-create an open source business model canvas that applies specifically to the US healthcare system.
Learnings on Key Partners for the Business Model Canvas for Healthcare (modelH)
We recently wrapped up our 13th business building block sprint on Key Partners. In summary, the sprint for Project 1.13 on Key Partners completed 2 objectives:
- Establish questions regarding the canvas for Key Partners
- Understand what delivery components to give to Key Partners
1. Questions to Ask on the Canvas for the Key Partners Block
We defined the questions that should be added to our business model canvas for helping practitioners define their Key Partners.
- Who are our Key Partners and what do they do for our business model?
- Are there any Key Intermediaries that we need to make into Key Partners?
- Are there any Key Influencers that we need to make into Key Partners?
- Which Key Resources are we acquiring from partners?
- Which Key Activities do our Key Partners perform?
An alliance is a relationship between your company and another, formed to tackle a common business objective while each remains independent in its structure. Alliances allow two companies to share the risks and rewards of working together. Alliances range from the simple (think Channel partnerships) to the complex (think joint ventures). Business models can use strategic alliances to:
- Reduce costs through economies of scale;
- Enter new markets through shared insights;
- Reduce cycle time for product launch;
- Improve research and development efforts; and
- Improve product quality and customer experience.