A partnership is characterised by trust, mutual respect, and joint sharing of risks and rewards. Both sides collaborate on innovation and improvement. In contrast, transactional or arm’s-length relationships are short-term and price-driven, while outsourcing simply transfers responsibility without guaranteeing collaboration. CIPS emphasises partnerships as enablers of integrative negotiations, where joint value and long-term benefits can be achieved.
[Reference: CIPS L4M5 (2nd ed.), LO 1.1 – Relationship spectrum: partnership vs transactional., , , ]
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