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of analysis-paralysis. In these cases, analyses/assessments go on forever, and no action is ever taken. This is a very safe approach, because an alliance, probably, will never be formed, the company will be busy analyzing and assessing and not doing, and therefore, the risk of a failed alliance will be avoided. |
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If you have identified a good potential partner, it is possible that the company you have identified may be courting others as well. In these cases, the company that can act quickly, efficiently, effectively, and deliberately will win. There is very little written about the deals that did not happen or the suitors who missed their chance. However, any one involved in the area of alliances and deals has experienced the one that got away. Because this is a fast moving evolving environment, growth and success are with those who can move expeditiously. |
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Overall, there needs to be an appropriate balance between effective and thorough analyses and the ability to act quickly. We are living in a very dynamic environment that is changing faster than it ever has. We need to be able to take advantage of and capitalize on opportunities quickly in order to gain and/or maintain a competitive advantage. The balance of complete analysis versus rapid action, however, is different between various companies, and is based on their own internal corporate culture. If any company wishes to change, this is one area that should be addressed first. |
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C.
Learn Everything There is to Know About as Many Partners as You Can |
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At this point, you should have gotten around the initial infatuation phase and moved on to the assessment of a real potential partner. Now, you need to learn everything there is to know about them. |
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Each potential partner needs to be evaluated objectively. This may be hard to do when members of your organization get stuck on a single potential partner or are reluctant to accept data and/or information counter to their individual perception of the environment. However, objectivity is critical to making good decisions and should be sought. A list of standard criteria with clear definitions and gradations of good versus bad should be used as a framework to build a knowledge base about each potential partner. Many of the same criteria mentioned before could be used again. However, the assessment should be more thorough and in greater detail, with an increase in the depth of information sought. |
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The criteria defined are those that your organization feels are necessary to determine if there is a good fit/match between the organizations. |
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