Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 7, 2001, Winnipeg, Manitoba B4 business Winnipeg March 2001 creating successful partnership takes Effort the ability to build Strong partnerships is a skill All managers should possess because in today fast paced and increasingly global business climate no firm can Hope to be Good at every its for this Rea son Many traditional manufacturing such As Levi have Cut Back or eliminated their factories and shifted their attention to the design and marketing of their managers in these firms realize their expertise is in Reading Public opinion and designing a product to match it while other firms Are better at design ing efficient production managers at internet firms Are one managing for 2000 of the greatest users of partnerships because these often Cash strapped firms dont have the resources to grow the company on their by teaming up with similar much the Way Suzi Bonk is organizing the Winnipeg High tech they can build off each others strengths and by linking together they can also offer potential customers a broader Range of services than they could Indi partnerships also allow firms to enter new markets faster than if they attempted it these partner ships typically involve a local company that understands the has an established customer base and a distribution system in other firms use partnerships to gain credibility and gain exposure beyond their traditional trading the Asper for is now partnered with Nash a and several venture capital firms thanks to its membership in a consortium of entrepreneurship this membership also provides credibility for the Asper As its associated with the larger and More established schools in the developing a successful partnership is not As easy As it but Many managers think there experts in the managers believing this often end up getting their companies into Lon term distribution deals with the wrong partner or paying too much for the services an important Point to remember when looking for a partner is to think of it like you would a Lon term person Al just As successful per Sonal relationships Are based on shared needs and value systems so Are Strong business its Best to Start by finding a company with a similar value system because to the outside world you and this com Pany Are the How do you find a company with Simi Lar values hard youll need to find out As much information As possible about the its products and such information can be found in a variety of sources but your Best bet is through Mutual these can be such As lawyers or or Mem Bers of an Industry people from these groups can give you a first hand account of How the firm does Busi Ness and fill in the pieces not covered by press releases and marketing once youve collected this preliminary arrange a series of i person meetings where ideas and dreams can be shared and managers from each firm can see each other in a variety of the next step requires each firm to Lay out what it Hopes to get from the having this information allows each company to judge if it will receive sufficient benefits from the relationship and understand what it is expected to give up in knowing this should provide sufficient information to determine if its worthwhile to formalize the it also pro Vides the parties with something to business should come Commerce seminar told Clicks and mortar keys to Success by Linda Rosborough in a few Short the expression e Commerce has become a common byword for the new but if its a timeworn concept for some Early adopters in the business com Commerce is still a bran new and maybe scary world for to help demystify the Indus try expert Michael Mala Drewicz gave an Commerce seminar to about 120 people from Small and medium sized businesses in Winnipeg if five years from now were still standing around talking about the importance of the internet and we will have missed said malay president of polestar consult ing of it will be too late for Commerce is about business Mala Drewicz not the most important Point is this is not something for the techie at your Busi Ness to be concerned he this is for the owner of the business to be concerned it is fundamentally changing the Way we do the term business can include All types of business activity using computers and such As electronic purchasing and inventory Man Trade in digital goods and employee recruiting and warranty he when it comes to preparing a business for the Commerce Mala Drewicz urged mangers to spend time determining a strategy the objectives of going the business strengths and the prevalence of Commerce Industry wide and the effect upon youd be surprised at How ready your customers Are for said malay using As an example Northern Ontario fishing lodges which Are reaching american customers via the once a Clear business plan has been a company must consider the service and other critical Success like distribution and value added Appeal for some at the seminar said they were curious about electronic what ways they might grow their Busi what others Are doing and if they Are being left Mala Drewicz said regardless of the strategy a company business will affect its some new Busi Nesses have been created because of while others will cease to the most successful companies will Combine internet and conventional ele ments the so called Clicks and mor tar if your strategy is to ignore Rebusi that your he and you do so at your own for those who venture malay Drewicz advised care if you blow punishment will be he dont fall asleep at the the free sponsored by the Canadian Bankers has been offered in 40 Canadian bargain Hunters boost tech stocks Toronto despite Stock Down grades of Nortel networks and Cisco systems Over the past two Days by telecoms equipment Ana those stocks rallied yesterday As investors went bargain Cisco Rose 84 or four per to us on the Nash a mar Nortel jumped or eight per on the Ironto Stock Exchange to close at can and gained us to us on the new York Stock both stocks Are far off their highs for the past Canadian press transportation fuels drop in orders by Jeannine Aversa Washington a Sharp drop in demand for cars and other transportation products drove Down orders to factories to their lowest Point in 14 providing More Evi Dence of an economic the Commerce in its lat est snapshot of manufacturing reported yesterday that All factory orders fell by per cent in after a per cent Rise the month Federal Reserve chairman Alan Greenspan has blamed much of the Economys weakness on an Effort by businesses to Cut Back quickly on production in the face of falling manufacturers suffer january setback while companies Are working hard to bring their excess inventories of unsold goods into better line with Greenspan told Congress last week that May take More yesterdays report is a troubling Indi Cator that manufacturing continues hav ing difficulty working off said National association of manufacturers economist Gordon january decline left orders at a seasonally adjusted billion the lowest level since november seeking to prevent the Economy from skidding into a the fed Cut interest rates twice in totalling a full percentage the rate cuts lower borrowing a move designed to Spur business investment and con Sumer which would Rev up economic Many analysts believe the fed will Cut rates for a third time at its next meet ing March on Wall stocks Rose on the belief the report would help Cement a fed rate orders for transport equipment plunged per cent in that followed per cent gain in excluding the volatile transportation orders fell per the third decrease in the last four associate press when its time to leave you wont find the t ic11 or life Law Industrial commercial investment Rice Law 1 save wisely get an Trust savings account personal service High interest 5 rates May fluctuate Trust of Canada 7884040 Rice financial financial group weve taken care of your now were taking care of business k commercial 116 Rocc a Russ Sun Tan studio a were there for you ui1kli tit wet measure so they can Tell if the partner ship is a the needs of each partner May change Over time As the relationship matures and other external factors come into for this reason the relationship should be reviewed on a regular basis with an Eye to modifying it or eliminating partnerships can help managers develop More effective organizations if done All too often they Are hastily entered into and create More costs than to develop a Strong managers must be willing to find the right partner and constantly work to ensure it continues to provide benefits to both if it ceases to do then the initiative must be taken and the relationship Robert Warren is director of the Asper Centre for entrepreneurship at the University of Manitoba Asper school of he can be reached at 474 8422 or via email at 3 . Badness forecast pummels Sears Stock Canada shares closed Down nearly 12 per cent a Day after the depart ment store Chain warned it expected to lose Money in the first Quarter and is bracing for tougher times Sears Canada shares fell As much As 19 per cent in Early Trad ing on the Toronto Stock Exchange before closing at Down in trading of nearly Mil lion after continually posting Strong results in the past few the big retailer said late monday that it expected a loss of 10 to 15 cents a share in the first due to weaker higher costs at and the buyout of the com pants former chief executive Paul lower expectations Given weaker than planned sales and Gross we think it prudent to lower expectations for the first Quarter to a loss of 10 to 15 cents per the depart ment store chains new Mark said in a the retailer also said it is lower ing its sales and profit margin forecasts and also plans to Cut expenses and spending in the first Quarter of the company had net earnings of 22 cents a analysts we rent surprised with the first Quarter warning As con Sumer spending has some also expected hiccups with Batons since its late november re launch was Over budget and two weeks past Sears Canada could also face a hefty multimillion payment to who suddenly left the retailer in january after heading the company for four he was replaced by a Veteran retail executive who was chief marketing executive at Roe Buck which owns 55 per cent of Sears Canadian press 89 of Winnipeg University graduates read the Winnipeg free press Maple partners investments notice is hereby Given that the Board of directors has declared a dividend of per second preferred series a to be paid to the holders of second preferred series a As at March the dividend shall be paid by March 9 it your Vacat station qx104 your vacation the Winnipeg free Selkirk travel and fab Tan want to Send you to Minneapolis to see the George Strait music festival May this show features Leeann Lonestar and Many More listen for the sound of the Jet for your Chance to be the 4th caller youll automatically win a tanning certificate Courtesy of fab Tan tanning studio plus Register to win the trip fill in the entry form and drop it off or mail it in for another 1 draw will be held daily from All entries received and the Winner will Al for the grand prize trial Ron Able and the waking Crew will make the grand prize Annoise Emenel March your Chance to take in the George Strait music festival in the Winnipeg free Selkirk fab Tan and your vacation qx104 i visit the free press Booth at the win a weekend for 2 at Home 200 Well be there March its your Chance to win 1 entry form fill out the entry form and drop it off at the Winnipeg free press 1355 Mountain orafqx104fm or mall to qx104 pm Jet unit c1045 James my r3h1b1 postal ;