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“Your Strategic Thinking Coach’s List of Ten Key Components of Effective Strategic Alliances”
| Guest post by: Glenn Ebersole |
Article Overview: 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. What makes a strategic alliance effective? What are the key components of effective strategic alliances? Your Strategic Thinking Coach researched this and came up with ten (10) key components of effective strategic alliances. Here is my list of ten (10) key components of an effective strategic alliance.
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“Your Strategic Thinking Coach’s List of Ten Key Components of Effective Strategic Alliances”
“Your Strategic Thinking Coach’s List of Ten Key Components of Effective Strategic Alliances”
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
Let me start by defining 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.
What makes a strategic alliance effective? What are the key components of effective strategic alliances? Your Strategic Thinking Coach researched this and came up with ten (10) key components of effective strategic alliances. Here is my list of ten (10) key components of an effective strategic alliance.
1. A shared vision. The strategic alliance must include strategic thinkers that have developed a shared vision for the strategic alliance, which is larger than each of their individual company visions.
2. Complete trust in one another and an agreement of why they need each other as a strategic alliance partner.
3. Mutual respect for what each partner brings to the strategic alliance.
4. Faith in the belief that the synergy of the strategic alliance will create something bigger and better by working together than by working separately.
5. Accountability through regular reporting of progress and tracking of the agreed upon goals and objectives.
6. Agreement of expectations, timelines, resources, issues of performance, confidentiality, cost sharing, etc. In other words, establish a complete understanding of ground rules for the strategic alliance and put that understanding in writing.
7. Open and continuous communications among all team members of the strategic alliance.
8. Established goals and objectives that are measurable.
9. Commitment to the goals and objectives and to all the team members in the strategic alliance.
10. Added value to each strategic alliance partner’s ability to serve its clients in the marketplace.
The most effective strategic alliances will include all the above components. The power of an effective strategic alliance exceeds the sum of the power of the individual companies or organizations added together when they act outside of a strategic alliance. If you are interested in learning more about these strategic alliance components and how to incorporate these key components to build effective strategic alliances with 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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- CEO Sales & Marketing & Leadership Development Company
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: Essential Leadership skills
- Vision
Values
Mission
Strategic Thinking
Decision Making
Communication
Team Bonding
People Development
Coaching / Mentoring / Guiding / Grooming
Presentation
Thanks
Robert
Do you believe in "Mantra" or "Mission Statem
- In the Strategic Management course I'm currently taking, my group and I were supposed to come up with an improved mission statement for the organization we're analyzing or explain why the existing one doesn't need to be revised. However, business expert and author, Guy Kawasaki says "Forget mission statements; they're long, boring, and irrelevant. No one can ever remember them-much less implement them. Instead, take your meaning and make a mantra out of it. This will set your entire team on the right course" ("The Art of the Start" 3).
Which do you use for your own businesses: Mantra, Mission Statements or neither?
Thanks
HRPreneur
- Hi everyone,
I am new to the forum and I recently started my own Human Capital (HR) consulting firm called HRPreneur Inc. HRP focuses on making human capital a strategic differentiator for SME's.
Below is a summary about HRP;
Who We Are:
HRP is a Human Capital consulting firm with 30 years of experience that becomes an extension of your company by providing a full array of services to help you create a highly engaged workforce focused on achieving strategic results in order to build a long lasting great company!
Mission:
HRP provides small and medium sized businesses a Strategic HR Business Partner to increase employee engagement, resulting in cost savings, increased productivity and results at an affordable rate!
Vision:
To inspire and warrant SME's reach their full competency!
Cost Effectiveness:
We provide over 30 years of experience at a fraction of the cost at a strategic executive HR business level
You will save between 50% to 60% in costs per year on salary, bonus, benefits, training, office space alone
We will provide you additional cost efficiencies through our services
Services:
• Strategic Human Resources Planning
• Organizational Redesign
• Change Management
• Organizational Culture Development
• Employee Engagement Programs
• Leadership Assessment and Development
• Compensation Design
• Talent Acquisition
• Assimilation and On-Boarding
• Performance Management
• Talent Management & Succession Planning
• Human Resources Due Diligence
• Human Resources Audit
• Full Service HR Outsourcing
Re: Business Women Peer Mentoring Spotlight
- Hi Tami,
Have you reviewed other comparable sites and coaches? I think that you will find that they have positioned themselves a bit more 'out there', and they dont focus on cheap pricing as the key benefit.
I think your copy needs to be much tighter with a focus on the key features and BENEFITS that group coaching provides. Look at The Strategic Coach model etc. Your bio needs to be stronger if you are going to be pitching business development and leadership development.
Also, have you put together a strategy for list building and promotions? how many subscribers do you have currently. Local networking as well as grouping some of your existing clients into the first BETA group might help.
People dont like 'NEW" services because it comes off that they will be the guinea pigs.
Those are my initial thoughts for now. Hope it helps. I'll try and spend some more time reviewing over the weekend and get back to you!
Jude
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