Oluwasona advocates strategic relationships for beating competition
By Felicia Nwosu
Olukayode Oluwasona, the Chief Executive Officer of 1201 Brandsway Limited, a Multi-Channel Marketing Communications Company, has called on business owners to adopt strategic relationships model as a strategic tool for gaining competitive edge while delivering on key objectives identified as growth imperatives.
The seasoned marketing leader said strategic relationships have become more important than ever in the high-risk, uncertain environment, and so, for organisations to achieve its strategic growth value in all its operational plans, and at the same time meet competition in an effective manner, that it must leverage such a business model to drive unique value proposition.
The fellow of both the Advertising Regulatory Council of Nigeria (ARCON) and the National Institute of Marketing of Nigeria (NIMN), stated this while speaking on the theme: “Strategic Relationship as Useful Tool For Navigating Changing Ecosystem, during the first 2023 IMC Quarterly Virtual Summit, the first of the quartet industry discuss championed by MARKETING EDGE, Nigeria’s leading brands and marketing magazine, annually.
“In order to thrive, organisms compete and collaborate with each other for available resources, co-evolve, and jointly adapt to external disruptions, so strategy should be seen as the “how” a company or brand achieves its long-term goal. Essentially, you can’t be talking of strategy, if you don’t have objectives. Building a strategic relationship in an ecosystem should be deliberate, he said.
Reaffirming that strategic relationships can be powerful levers to drive tremendous growth, he urged organisations to drive appropriate business objective with partners that have aligned values, complementary capabilities and assets that its business growth requires. While encouraging to also ensure that it has the necessary frameworks to systematically explore, structure and manage such relationships.
“Business relationships succeed or fail based on the aims and objectives of the relationship. Aimless or baseless engagements are not meant to achieve anything meaningful. To establish and maintain a relationship that pays off, prioritize such things as competence, support provision; Trust; Reliability; visibility, etc. All of these would help you to navigate changing times in the ecosystem.”
According to the CEO of 1201 Brandsway Limited, the environment shapes the various strategic decisions by organisations since it has a far greater influence on most firms. This, he maintained, implies that an organisation cannot survive outside the support of its environment. The AAAN ex-president added that in every step of an organisatioal life, man is involved and so must be given an uncommon consideration in the organisational journey.
“Business is a social phenomenon, man is involved even when it is business to business relationship, every business is owned, represented and run by man. With the business strategy and plans all perfected , every agency must pay attention to the ‘man’ running the show out there.”
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