By Sherif Nagy, General Manager of THE FITOUT
In the current world, we can witness a robust connection between all the industries and sectors as one provides the resources required by another. Collaboration across different sectors has been proven to be an ideal solution to unleash innovative ways of working, mobilising expertise, utilising resources, and creating shared accountability in the increasingly complex global economy. By sharing information, resources, activities, and capabilities, each sector across the globe is now reaping immense benefits.
The economic transformation over the past few decades has already blurred the traditional boundaries between different sectors. For instance, the retail industry is dependent on the supply chain, supply chain industry is reliant on technology, similarly, the fit-out sector is also dependent on other industries to complete its projects. Today with the increased co-dependency of each sector, there are new opportunities and responsibilities for each industry, and this can be further boosted by forming new partnerships that can support the growth of any business venture. Merchants and traders across the globe have been leveraging the capabilities of strategic partnerships to conduct their business for decades.
With a growing number of companies and individuals seeking to have a creative flair in their offices or residential fit-outs, the industry is witnessing continued growth. Typically, the fit-out is done after the construction phase, which gives a unique identity to any empty space. A perfectly implemented fit-out can create a remarkable difference to the space, as well as the people occupying it. For instance, a well-equipped fit-out office space will make employees feel that their employer cares about their needs, which eventually boosts productivity. These factors put a great pressure on fit-out firms to provide ideal results, hence such firms are required to partner with other industries to ensure the quality and timely delivery of the projects.
In order to become a prominent player in the fit-out industry, a firm needs to rely on high-quality materials, exceptional and modern technology, and optimum facilities management. This drives fit-out firms to join forces with prominent names in other sectors across the globe. An ideal partnership offers fit-out companies the opportunity to expand capabilities and observe the perspectives of other sectors. All of the knowledge can be later put into use in its projects which further helps develop the business in the future.
Despite of these benefits, some companies are still reluctant to form partnerships considering disagreements that could occur within the company, in areas such as power, equity and workload. However, any partnership issues can be solved with proper communication and planning, which enables the company to perform at its best.
While forming partnerships in the fit-out sector, one should consider reliability of the potential partner, similarly shared values, personality fit, and parallel business trajectories. When firms that share same goals and vision join forces, the strength of each organisation can grow dramatically, delivering more qualitative services to customers and boosting overall brand equity.
In the fit-out sector, partnerships with providers of quality services can build credibility of the firm among clients and further boost business growth.