Alliance development and management used to be simple. Find the group of potential allies you wanted, find where they meet, and get involved there. In the sharing economy, allies have become easier to find and encounter, but harder to know. With mega-gurus like Richard Branson, Elon Musk, and Daymond John taking to Twitter, Facebook, LinkedIn, and other social media sites, alliances bridge geographic and sociological boundaries. Linking and touching others has never been easier, but is that an alliance? Continue reading
Category Archives: Strategic Alliances
Succeeding with Business Alliances
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
Pitfalls and Benefits of Strategic Alliances
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
Strategic Planning Must Include Important Strategic Alliances
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
Strategic Alliances Embodies Five Characteristics
Alliances originate in every shape and size, and then evolve to meet the requirements of the partners. Strategic alliances are high-maintenance commitments towards particular purposes. Do not consider them to be spontaneous, nor short-term. Strategic alliances in the technology world start at 5-10 years. For the pharmaceutical world, the time from conception to market is very long and expensive. Therefore their strategic alliances exist closer 15-20 years. In my local community, the mayors of more than 25 communities created an alliance in the 1980’s to grow the whole community. The fruit of their efforts are now blossoming. Continue reading
Helpful Tips To Maintain Strategic Alliances
In the business world, strategic alliances are vital towards success, but only if they are well maintained. On-going maintenance is critical; otherwise you end up with an alliance that hurts you, your business ally and your customers. However, with four simple steps you create an alliance that produces optimal results. Continue reading
Collaboration Improves Business Growth
There is an element of business that is completely competitive, but there is more to it than that. For the most part, people think of business as a dog eat dog environment, but there are some moments when it is better to work with other businesses through collaboration.
Always Be Mindful Of What You Say
Based on the fact that so many people Continue reading
3 Tips to Follow for Business Collaboration
Collaboration is a powerful tool in business. Many times your organization can collaborate with another business to produce amazing results that otherwise would not have been obtained. We will discuss 3 tips to follow when collaborating with another business:
Tip One: Open Communication is king. To be successful Continue reading
Choosing a Matchmaker to Help Find Business Partners
Most people think of a matchmaker as someone who arranges romantic relationships. However, you can apply the term matchmaker to most anyone who introduces you to potential partners, such as business partners.
Meeting and developing a relationship with the right partners can be a difficult task. Continue reading
Why Most Small Businesses Need Power Partners
There are many commercials on TV and on the radio these days that say to call in and tell them about your invention idea. It sounds so easy, yet so campy and shifty at the same time. You’ve decided to market your own product. You’ve invested your own money, (and possibly a little of someone else’s if you’ve been lucky). However, you know deep down that you might not have what it takes to insure the success of this business. It’s the same feeling that made you even listen to that campy, shifty commercial in the first place. You know you need help, but you don’t know where to look or how to get it.
Help for Small Businesses with Good Ideas Continue reading
How Strategic Alliances Improved the Airlines Industry
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.
An Ivey Business Journal article discusses strategic alliances Continue reading
Use Alliance Management to “Get it Right”, because Alliances Have Limitless Potential
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.
Why Use Alliance Management?
Alliance Performance Coaching: Which Coach Do You Choose?
With the number of business alliances soaring, alliance performance coaching becomes even more essential.
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?
Power Partners, You Know You Need them, but Do You Really Have Time to Build Alliances Properly?
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
PC Tablet Manufacturer Enters United Arab Emirates via Strategic Alliance
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
The Benefits of an International Joint Venture and the Risk of Naturalization
There are several reasons as to why a business may want to enter a joint venture overseas. Things like lower manufacturing costs, favorable monetary conversion rates, and lower taxes can all make international joint ventures beneficial. However, even though there are many advantages to entering an international joint venture, there are a considerable risks.
International joint ventures allow businesses to reduce their risk while extending their market reach to an entirely new area. Having access to a whole new customer base is enticing for businesses Continue reading
How Joint Ventures Can be Beneficial for Entrepreneurs
While joint ventures (JVs) can be a good strategic move for all businesses, they are particularly beneficial for entrepreneurs. A business may enter a joint venture if they are entering a new market place or geographical region. A joint venture will help take it to a new plateau.
The relationship between joint ventures and entrepreneurs is much different. An entrepreneur typically starts out with an innovative idea, Continue reading
Growing Your Business with Joint Ventures
Whether you are starting out as an entrepreneur or have a successful business already, you know the importance of you clientele and growing your customer base. Sometimes it can be difficult to design and market new products and ideas on your own, especially if you are just starting out. One solution to this dilemma is Joint Ventures (JV). A joint venture is a business agreement between two parties with the intent to achieve a common goal.
Here are some great advantages Continue reading
Channels Of Distribution, Growing Your Company
Resellers are an important part of growing a business. Without partners, most businesses will simply start to stay in place without any real growth. In order to avoid this, it is important to open up the channels of distribution.
How To Pick Channels To Consider
Do not just pick any random reseller Continue reading
The Advantages of Value Added Resellers (VAR)
In the world of business there are many benefits to producing products as Value Added Resellers (VAR). In the computer industry, a company that makes the hardware can increase the value of their product, if they offer a specific type of software as standard on the computers they make. The computer maker and the software creator work together to provide a new and more valuable product.
The advantages to the partners involved as VAR are numerous. Continue reading