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intelligence
UNITED WE STAND
Lorraine Shah examines how joining forces to become part of a consortium can help companies win overseas contracts
Teamwork has always been an important factor behind winning contracts in global markets. For a company to be effective on the international stage it has to count on the pooled efforts of all of its employees, at all levels of the business. It is only by working together that success will be secured.
Imagine what could be achieved, therefore, if companies adopted a teamwork approach not just within their own businesses, but also with other firms with similar interests. Partnering up with like-minded companies to bid for overseas work could make the difference between success and failure – and also make the pitching process a lot more enjoyable, not to mention less risky, along the way.
GROUP DYNAMIC
Such a partnership is typically known as a consortium – an association or a combination of businesses working together for the purpose of engaging in a joint venture. There are two types of consortium. Locally led consortia are formed by local companies in an overseas market who come together to bid for a project but require international partners, potentially one or more from the UK, to strengthen their offer. An internationally led consortium, on the other hand, is where a UK company has the ability to lead a bid for a project but requires local or international partners in order to be compliant and competitive.
Forming or joining a consortium can be particularly useful for a smaller company interested in pursuing high-value opportunities. Alone, they might not have the resources, expertise or experience to bid for larger projects, but, by working in tandem with another firm, whether from the same country or elsewhere, they gain the confidence and credibility to be able to enter into bids for contracts that require multiple skills and backgrounds. Each partner learns from the successes and mishaps of other consortium members.
Being part of a consortium, with firms that offer complementary capabilities and specialisms, removes the pressure for a company to try and be expert at (Continued on page 44...)
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www.ukti.gov.uk | page 43
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