Has your company has achieved a peak? You have been wondering what comes next. Create strategic alliances. A strategic alliance will help you achieve your next set of objectives; the ones that you cannot achieve on your own. With a well-structured alliances, 1 + 1 = 5.
To add a new product or market, there are three ways: Build it, Buy it, or Partner for it. Continue reading →
Rapid advancements in technology have changed the way strategic alliances are born, managed, and terminate. This inevitable evolution has led to valuable alliance-based benefits, such as streamlined and time-efficient processes, more opportunities for growth in individual businesses and their joint market, and the ability to increase customer relations. It is also important to understand the history behind these alliances. Oftentimes, an old process can lend invaluable balance to its evolved counterpart. Continue reading →
Walk into any Starbucks store in the country and become instantly greeted by the welcoming smells of freshly brewed coffee. You may also notice the happy customers going over business plans, reviewing homework, or simply surfing the Internet at their leisure. In general, the customer base of Starbucks is a happy group willing to fork over five dollars or more for their favorite coffee. However, there is always room for improvement. Continue reading →
Consider this phrase: Alliance Management. On the surface, it sounds like a good idea, right? You want to carefully maintain your alliances. On the other hand, how exactly does one go about this? By the very nature of the word, you do not control – or entirely manage – those with whom you are allied. They work for another company with different management, different goals and different products.
Though there are many exciting, new businesses to partner with, it’s easy and more profitable to choose the right one. Here’s how.
2014 was a great year for startups geared toward enhancing consumer convenience through mobile devices. In fact, consumer tech was the obvious business focus that startup founders seemed to take the most interest in. Continue reading →
The business community frequently relies upon strategic alliances to create better products, better distribution, and improved customer satisfaction. Unfortunately, many alliances fail. A review of those failures helps current business owners understand what to avoid.
The best strategic alliances between two or more companies are those where company resources complement each other. At the same time, not all contributed resources can be used effectively in an alliance.
There are two major forms of constructive strategic alliances between companies, Continue reading →
Strategic alliances can increase market share, reduce competition, improve expertise, and open the door to new funding opportunities – but not all strategic alliances are created equal. The truth is that sometimes a strategic alliance can cause more harm than good if the partner company has different goals, gets more than it gives, or otherwise fails to live up to its side of the deal.
Before you set up a strategic alliance, ask yourself these questions first: Continue reading →
The title of this article refers to the thought processes of a top manager of a company, corporation, or business. There are reams of articles written about various entities forming business or strategic alliances and all the benefits that will accrue to the partners. Continue reading →
Unlike many other partnerships found in life, business alliances are not the most natural thing to create. Human beings come together as friends, romantic partners, and co-workers, but businesses are often thought of as adversaries. Despite this general perspective, studies show business alliances often raise profits and generate other benefits for both partners. The only problem is many of these alliances fail.
The Facts About Alliance Failure
Entrepreneurs may be alarmed to learn about the high failure rate of business alliances. Continue reading →
Alliance Partners bring unique strengths to your business. Each partnership can bring support, innovation, resources, and intelligence to your business. With so much on the line, how do you decide who is your best alliance partner?
In any relationship, there is a vetting process which takes place before you commit to the relationship. Business alliances are no different than any other relationship in the vetting process. A young couple begins dating with discovery, exploration, testing, and more. Shouldn’t you be doing the same when you create an alliance? Continue reading →
Why enter into a business alliance? The main motivations include cost reduction, the improvement of service or capture more customers. Here are 5 kinds of business alliances that business-oriented minds need to know about: Continue reading →
There’s an old saying that “two heads are better than one,” and it has never been truer than today. There are several benefits to connecting with another company in forming a strategic alliance, the corporate equivalent of putting two heads together.
Leverage knowledge and expertise from another company, without having to hire additional employees
Working together with another company in a formal strategic alliance provides your company access to additional experts, without having to hire them. Continue reading →
A business’ growth to a higher level is often a perilous journey. From a start-up’s first unsteady step into the business arena, through each acquisition and investment that follows, risks surround those bold enough to take on the challenges.
The foundation of the company is built on skills, capital, an idea and a vision. Often the starting team has some form of expertise in manufacturing, procurement, marketing, engineering or design. Continue reading →
There are many cases in which two competing companies would both be better off if they formed a strategic alliance. The companies in the alliance would still differentiate themselves, but at the same time, they’ve successfully removed a competitive threat. A situation like this, of course, depends on the companies and the industry, but it’s lesson can be applied to several other cases.
If your business is stagnant and needs a fresh and new division, product or service; or if you’re a new business and you need credibility or access to an established customer base, an alliance is a great way to get where you need to be.
An article from Forbes talks about why coaching is vital for any partnership. In this piece of literature, the author makes it clear that no matter the past relationships that you have had with your partner, it pays to hire a coach. As he puts it, “Whether or not you knew each other beforehand, launching a business will change your relationship.” Therefore, to thrive in any joint venture, you have to incorporate performance coaching services. However, how do you make certain that the coach you go for will be rewarding for your business?
It’s official. The public’s buying behavior has changed. Every major marketing firm on Madison Avenue now has an Internet Marketing division; and many experts believe online marketing is even more powerful than TV, Radio and Print marketing is for many products and services. Everyone from grandpa to toddlers is becoming more tech savvy; and consumers are making buying decisions based on social and environmental responsibility.
What do You Do?
Well, totally changing your business model is out of the question for a multitude of reasons. However, a new joint venture can quickly gain you access to new customers, more capital, more technological resources; and give you more credibility in the modern marketplace. Continue reading →
In a recent announcement Simmtronics, the world’s third leading PC tablet manufacturer, and Jumbo Electronics, the leading distributor and retailer of IT and consumer electronics in the United Arab Emirates (UAE), have formed a strategic alliance to distribute PC tablets throughout the Gulf Cooperation Council (GCC). Simmtronics’ motivation for penning the deal is an effort to remain true to its commitment to expand in to as many new markets as possible.
According to Chris Ruggeri, M&A services leader at Deloitte Financial Advisory Services, the recent decline in M&A activity Continue reading →