Strategic Alliances

Do you feel your business cannot grow because it is lacking _____________ ? You fill in the blank. Odds are a strategic alliance can be set up to provide your business with what you feel it is lacking to succeed.

The basic definition of an alliance is:

A relationship between two or more entities, or people, involving the sharing of complimentary disciplines, technologies, products, organizational structures, marketing channels and/or financial resources.

No business is too small or too large to establish and enjoy the benefits of a well structured alliance. Even a start-up can attract and launch its business with strategic alliance support.

There are five basic types of strategic alliances:

1. Funding
2. Joint Venture
3. Merger/Acquisition
4. Technology
5. Cooperative

Each type of alliance can be subdivided into several categories to fit a businesses specific needs.
For any strategic alliance to be a win-win for everyone involved you have to define the following:

• Alliance needs
• Your businesses core competency
• Alliance goals and objectives
• Criteria for success
• Partners role and relationships
• Characteristics of good and bad partners
• Potential partners
• Operational details
• Deal structure with exit plan

Click here for our Strategic Alliance Process Chart

Biz Strategies, Inc. can help you with every step in establishing a strategic alliance plan tailored to your needs. Email us your questions or specific needs at alliances@bizstrategies.biz. for a FREE introductory consultation on your specific need.

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1888 Articles Featured Strategic Alliance, a key Business Strategy... Andrew C. Nester @ 1888Articles.com