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Strategic Alliances (Steps in creating and maintaining an alliance (Align…
Strategic Alliances
Steps in creating and maintaining an alliance
Align internally
Select the proper partners
Negotiate a win/win deal
Establish ground rules
Appoint a dedicated alliance manager
Encourage collaboration
Engage in a collaborative corporate mindset
Manage multifaceted relationships
Conduct pulse checks
Plan for change
Characteristics of a successful alliance
Individual excellence
Interdependence
Importance
invesments
Information
Integration
Institutionalization
integrity
Interpersonal skill
Reason to form strategic alliance
To add value to products
To enable strategic growth
To increase market access
To strengthen operations
To increase organizational expertise
To build organizational skills
To enhance financial strength
Factors to consider in deciding to form a strategic alliance
Strategic importance
Number of suppliers
Complexity
Uncertainty
New relationships
Commitment required for a successful alliance
Commitment to change
Commitment to the relationship
must create
Common models, techniques, and expectation for spotting, diagnosing, managing, and learning form conflict
Structured methods for managing information flow
Structure for decision making, including who will make decisions and how they will be communicated throughout the partnering organizations
Commitment to communication