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How to Build Successful Strategic Alliances
Written by: Glenn EbersoleArticle Overview: First of all, what is a strategic alliance? A strategic alliance is a partnership, a collaborative agreement and/or a relationship between two or more companies or organizations formed to pursue a set of agreed upon goals while remaining independent companies or organizations. Strategic alliances exist in a variety of shapes and sizes and include a wide range of scopes of cooperation levels. Strategic alliances usually are most effective when the entities involved have complementary strengths. In another article I wrote entitled “Strategic Alliances And Their Powerful Benefits,” I listed twelve (12) clear and powerful benefits of strategic alliances. Now, in this article I suggest how to build successful strategic alliances. Here are the ten (10) suggested actions to take to build successful strategic alliances.
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How to Build Successful Strategic Alliances
“How to Build Successful Strategic Alliances”
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
First of all, what is a strategic alliance? A strategic alliance is a partnership, a collaborative agreement and/or a relationship between two or more companies or organizations formed to pursue a set of agreed upon goals while remaining independent companies or organizations. Strategic alliances exist in a variety of shapes and sizes and include a wide range of scopes of cooperation levels. Strategic alliances usually are most effective when the entities involved have complementary strengths.
In another article I wrote entitled “Strategic Alliances And Their Powerful Benefits,” I listed twelve (12) clear and powerful benefits of strategic alliances. Now, in this article I suggest how to build successful strategic alliances. Here are the ten (10) suggested actions to take to build successful strategic alliances.
1. Develop a focused winning strategy for the alliance that comes from the distinctive competencies and competitive advantages of the partners in he selected target market(s).
2. Develop clearly defined objectives for the alliance to ensure there will not be a goal divergence or conflict between alliance partners.
3. Recruit and select a strategic partner based upon your focused winning strategy, your goals & objectives and your values system.
4. Develop an effective structure with a clear purpose to govern and manage the alliance.
5. Develop core competencies in collaboration and look for people who already have a proven ability to work in a collaborative environment.
6. Prepare to proactively manage the company cultural challenges that may arise between the alliance partners.
7. Respect and protect the brand of each partner.
8. Determine and align decision rights to define what decisions are important to the alliance, which partner should make them and how the decisions will be made and monitored.
9. Develop core competencies in change management to most effectively participate in a flexible, adaptable strategic alliance.
10. Develop and agree upon an exit strategy for the alliance. It Is important to have agreement in advance on how the alliance will be concluded if and when it may fail and/or when it has fulfilled its mission and achieved its goals and objectives.
If you are interested in learning more about building successful strategic alliances with your company or organization and how they can specifically benefit your company or organization, please contact Glenn Ebersole through his website at www.businesscoach4u.com or email Glenn at jgecoach@aol.com.
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Article Tags: alliance partners, benefits of strategic alliances, collaborative agreement, collaborative environment, competitive advantages, complementary strengths, core competencies, decision rights, distinctive competencies, divergence, ebersole, independent companies, look for people, renaissance group, scopes, shapes and sizes, strategic alliance, strategic partner, target market, values system
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Strategic Vision 10
Alliances & Growth Strategies 10
Hiring & Managing People 8
Mentoring 8-9
Strategic Planning for Clients 10
Execution of Marketing Campaigns 9-10 (i have great people who do the nitty gritty)
Financial Management 9
Bookkeeping 3 (outsourced as I really hate the fine details like GST0
Administrative Follow Up 6-7 (again have great staff)
Writing & Publishing 9 (getting better all the time!)
Speaking 10 (so I have been told)
Self Promotion 9-10
Web development & Promotion 6-7 (learning more and have brought on players who are 10+)
Babysitting Employees (1 - wont do it, that's why I work so hard to hire and motivate the people I have)
Great topic Kevin!!
Jude
Re: What's 1 word to describe what your business will be in 2012
- Successful.
Re: Great start, but no finish
- My advise is FOCUS on your business.
Focusing is the main factor to succeed on business. If you have a great idea, then follow it only, don't look anywhere else. It is especially essential in an online business. Because there are a lot of mind blowing sales letters promising millions dolllars or overnight success, people find it difficult to concentrate on one business and they lose their energy.
Concept is simple.
1- Have a good idea;
2- Build your business on it;
3- Monetize your business;
4- Promote it;
5- Build list of responsive customers;
6- Maintain You Business.
Focusing and not fearing from competition (instead you can learn from competitiors) are main tips of billionaires ,BTW.
Orxan
Re: Essential Leadership skills
- Vision
Values
Mission
Strategic Thinking
Decision Making
Communication
Team Bonding
People Development
Coaching / Mentoring / Guiding / Grooming
Presentation
Thanks
Robert
Re: How to do Link Building?
- Be diligent. Build blogs.Pay attention to the contents.
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