Increased competitivity, bigger buying power, greater efficiencies and more innovative ideas are just some of the benefits of collaborating in the business world. But it’s not just for the big players – micro, small and medium-sized enterprises (MSMEs) can weigh in on it too. A new guide especially for them has just been published.
ISO 44003, Collaborative business relationship management – Guidelines for micro, small and medium-sized enterprises on the implementation of the fundamental principles, aims to help smaller companies reap as many of the benefits from new networks and partnerships as the larger ones. This includes sharing risks and resources, leveraging knowledge and expertise, reaching new markets and gaining access to research and development.
ISO 44003 covers a wide range of areas including business objectives, leadership, governance and processes, risk management, measurement and exit strategies. It is applicable to all kinds of MSMEs, regardless of their sector, operating environment, social capital and objectives.