Characteristics of a successful alliance
In today’s business world, organizations partner with each other to leverage their strengths for better business outcomes. Many of them call it a “partnership” or an “alliance”. An alliance is a close, collaborative relationship between two or more entities that share complementary assets, strengths, risks and rewards to create increased value or competitive advantage for their customers and their own organizations, that would be difficult to achieve independently. There are two broad categories of alliances: strategic and tactical. Strategic alliances produce a powerful competitive advantage, impact organizations long-term destiny, and have significant consequences when they are not successful. Tactical alliances tend to be shorter term, more project oriented and formed with a specific end-point in mind. Both types of alliances can be valuable in achieving business outcomes, however this blog is on strategic alliances and its typical characteristics. Alliance Characteristics Succes...