“Obtain useful, thought-provoking tips on how a company can select, build, and maintain strategic alliances.”
Companies have proven over the months that when faced with challenges, alliances can speed up innovative results. The current COVID-19 crisis is no exception. Exciting alliances and new partnerships have arisen and have found new and faster ways of supporting communities, hospitals, businesses, and governments globally as they handle/recover from the economic and health impacts of COVID-19.
However, it’s a remarkable paradox: studies show that the number of corporate alliances increases by some 25% a year and that those alliances account for nearly a third of many companies’ revenue and value—yet the failure rate for alliances hovers between 60% and 70%. And despite an abundance of advice on how to make alliances work, that dismal record hasn’t improved in the past decade.
The conventional advice from the experts is quite consistent: Create a solid business plan backed up by a detailed contract. Define metrics for assessing the value your alliance delivers. Seek common ground with partners and pay close attention to managing your interface with them. Establish formal systems and structures. The recommendations are all sensible; you’d apply them to any business arrangement.
Building alliances is a new way of thinking about competition. Obtain useful, thought-provoking tips on how a company can select, build and maintain strategic alliances.
The world constantly changes. Therefore, rethinking how we build and manage channels is necessary. Building new markets, developing new products, and marketing effectively is expensive. Many companies can take advantage of partnerships and alliances to strengthen the value chain. Alliances can serve as a shortcut to optimize learning, development, production, quality, marketing, and sales. Her talk is based on more than 10 years of working in global sales. Lots of exciting cases to learn from.
Read more about How to Visualize innovations at Soulaima Gouranis Blog.
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