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
Tag Archives: partners
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
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
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?
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
Goes Together Like Peas and Carrots
There are many things that go together so well that many people think of them that way. Such as peanut butter and jelly, peas and carrots, salt and pepper, or spaghetti and meatballs. Value Added Resellers (VAR) can take your company to the next level by creating a partnership that fits together just like those famous pairs. By pairing your products with products from another company, you enter into a win/win situation. Both companies are able to increase sales by offering an improved product, as well as accessing a customer base from each company. Continue reading
The “Eight I’s” in Strategic Alliances
There may be no “I” in team, but there is certainly an “I” in strategic alliance. In a recent Harvard Business Review article, author Rosabeth Moss Kanter explains her “Eight I’s That Make We” concept. The article ironically plays with the well-known phrase and suggests that in order to be successful, a company should actually concentrate on the following “I’s” when in a strategic alliance: Continue reading
Assigning Responsibilities between Business Partners
There are many factors that demand attention when considering a business partner, but one of the most consistent pressing concerns is the delegation of work and responsibility, or more simply, “who’s going to do what?” Another company may seem like a good candidate for a business partner in theory, but in reality, the delegation of work may make the business partnership undesirable.
Because of the internal strife that may result from Continue reading
The “Sweet Spot” in Strategic Alliances
Although strategic alliances are often beneficial for participating firms, prior to the alliance the two companies should be aware of the nature of their professional relationship. Continue reading
Alliance Performance Coaching: CEO Partnership Support
We all have a basic understanding of these three words.
Performance is the presentation of work, generally applied to an expected level of success. Coaching is mentoring and/or apprenticeship by instruction, encouragement and example. Put this all together for the corporate world and you have the following definition: The mentoring of executive leadership in forming strategic partnerships between mutually motivated companies to effectively raise profits and lower losses for each partner.
At a time when “coaching” is the go-to word for any form of guidance and “expert” advice, from Little League to self-help gurus, it’s important to Continue reading
Power Partners Create a Foundation for Businesses
Keeping a business growing requires thinking about unconventional solutions. Sometimes when seeking a solution, it takes an angle from the other side to give a clearer light on the problem. Being power partners with another business is a great strategy to give businesses a new look at common problems.
Power partners are a great way to secure a consistent revenue flow to insure continued success. Continue reading
3 Steps to Find Alliance Partners For A Competitive Advantage
As a business owner, you have probably spent a lot of money in marketing campaigns to grow your brand and your business. Do you have the feeling that there is just something missing that is preventing you from getting the exposure you need and the competitive advantage you deserve? Have you ever considered seeking another business to form a partnership?
The key is to find another business that does things you cannot do to combine your strengths to create something very unique and valuable. Let’s look at some important 3 considerations in selecting business partners to give a competitive advantage over time:
How Value Added Resellers (VAR) Make It Work
Becoming a Value Added Reseller (VAR) is a lucrative way to add value and specialization to your product while saving yourself the development costs of manufacturing and developing the add-ons yourself. We’d like to offer you some tips in making this selling program work for you.
The most important thing is to establish yourself Continue reading
Two Steps to Use Business Alliances to Expand Your Service Offerings
Whether you are in accounting, finances, sales, consulting or another service industry, to grow your small business takes creativity. Using strategic business alliances allows you to develop a mutually beneficial relationship to expand your service offerings and increase your brand awareness.
Seek Vendors with a Shared Target Market
It may seem counterproductive to build a relationship with a business that shares your target market. You are not sleeping with the enemy. Continue reading