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such as reduced financial commitment, shared risk, and potentially greater flexibility (i.e., your own internal resources can be deployed to other projects). However, unless the alliance or partnership is created so that it provides a mechanism to develop, monitor, and work at and through these issues, prospectively, there is a good chance that an alliance or partnership will not provide you with the advantages sought. |
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An alliance also creates burdens that should not be overlooked. Successful alliances are true working partnerships. They involve strategic, operational, tactical, personal, personnel, and financial commitments. Your organization must understand the scope of the internal investment necessary to make partnerships work and be willing to providing these elements to the alliance for the long-term to realize the defined goals. |
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Another factor, often overlooked, is that there is no guarantee of success with an alliance. The probability of success can be increased substantially by addressing the points and issues described in this chapter, but nothing has a 100 percent guarantee. Therefore, even if an alliance is chosen as the path to take, it is prudent to develop a contingency or back-up plan in case the alliance fails. The partnership or the project itself may fail. Therefore, it is only good business practice to make sure that there is a back-up plan and strategy defined that could be implemented if necessary. |
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We have to remember that, in any business dealings, we cannot guarantee the outcomes. The only thing that we can do is ensure that we have done the appropriate research, and done it well, to make the right or best decisions. |
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If there is a clear understanding of these issues and the conclusion is drawn that an alliance or partnership, in fact, is a viable, acceptable, and the most appropriate approach to take, then, perhaps it is time to go to the dance to meet some potential partners. It is important to keep in mind that this action/approach must be fully supported and accepted by all levels of the organization, especially by the key stakeholders and senior management. |
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One way to ensure full support and acceptance from all levels of the organization is to ensure that there is a clear evaluation process that the organization will go through to choose the best partner. Along with an accepted and understood process, the criteria for decisions should be well defined and accepted. The process should be effective, efficient, and achievable in a timely manner. In many cases, timing is essential. Taking too much time to do too much at the wrong time can lead to many missed opportunities. |
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