2022-04-11 Blog - Managing Partnerships

Managing Partnerships is something that must be taken care of whenever we find ourselves in a partnership. A partnership is when two or more business entities or individuals form an alliance to leverage each other’s expertise and field of services to serve the community in which we are located in a more efficient and effective mode.

Managing a partnership is very much like a choreographed dance, you take steps to the left and I to the right, or in business terms, my organization can provide the kitchen and the equipment, and the partner will be providing trained and certified food handlers, cooks, and cleaning services for the kitchen and dining area. Other partnerships are more complex and do not have delineated areas of service for each partnership.

Regardless of the situation that you find yourself in, the terms and conditions that make the partnership must be clearly delineated and spelled out in the contract and non-compete documents. Make sure that you have time terms, the length of the partnership, addressed as well.

All these conditions seem like an overkill, however, each and every condition is very important to the management of the partnership, as well as all the duties that each partner performs, is responsible for, and what is deemed to be unacceptable.

In summary, what is needed in the form of legal-binding documents is:

  1. A Memorandum of Understanding, known as MOU, signed by all concerned parties.

  2. A very well-defined document delineating all the monetary concerns:

  3. Who is responsible for the collection of funds, if this function is required.

  4. Who is responsible for management and disbursing of the funds.

  5. Who is responsible for the overall management of the partnership and its functions.

  6. Who is responsible for the management of any areas where duties may cross.

  7. Who is responsible for acquisition of supplies required.

  8. Who is responsible for management of the supplies overall.

  9. Time keeping and tracking for employees and services.

  10. Volunteer procurement and management, including number and hours.

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