Home
>
Strategic Planning
>
Six Key Areas For Evaluating A Strategic Alliance

Six Key Areas For Evaluating A Strategic Alliance

Strategic alliances are increasing at a rapid rate. It is good for business, good for the consumer. A strategic alliance is similar to a joint venture. Everyone remains in his or her own entity, yet come together for a single purpose or period of time to create something that could not otherwise be created.

There are cautions and rightly concerns one must consider before entering into a strategic alliance with other people. For instance, evaluating each partner's value and capabilities for alliance is mandatory before agreeing to an alliance. The who, what, when, where and whys all need clarification with failsafe boundaries.

There are many considerations when developing a strategic alliance, here are six main areas along with questions that you will want to answer to help you determine your own readiness for an alliance.

1. Assessing contributions. What do you or each partner bring to the alliance? What is each person's purpose and goals?

2. Agreeing to the terms. This has three parts: (1) area of interest, (2) net benefits, and (3) joint operations. What interest is yours and what is theirs. Strategic interests must be similar and materials or services comparable. Economic interest must have enough benefits for each to remain committed and minimize trade. There must an operational agreement.

3. Agreement on task and skills. Who is the apprentice on what? Who will be name master on what? Who is going to specifically be responsible to complete what task? Who is going to learn what? What is the division of duties?

4. Defining and measuring progress. Who is going to define or handle sales? What target market will be pursued and when? What is the process chart for a new product or service? How will the revenue be generated and distributed? What will occur if the measurements aren't met?

5. Progress and time. Who is tracing the progress and the time invested? Is the time to be contributed equal or is there a trade-off for other resources? Who and when will the progress reports be regularly discussed and completed? Is there going to be a board that will monitor equality and fairness?

6. Points of tension. When there are points of tension, and there always is so don't kid yourself that there never will be, is an outside source going to be the arbitrator? When tension occurs does it need to be expressed in writing first and then discussed? Is there a cool-down period that is required? Who is going to sign off on checks, balance the checkbook, and monitor cash flow?

So many questions, so little time. Yes, I understand, however, this one time you want to stop and open time, address these questions, and any others might need to be addressed.

Catherine Franz, a eight-year Certified Professional Coach, Graduate of Coach University, Mastery University, editor of three ezines, columnist, author of thousands of articles website: http://www.abundancecenter.com blog: http://www.abundancecenter.com

recurring maid service Wilmette ..

In The News:

OpenTable now uses AI to track your dining habits and share insights with restaurants. Learn what data they collect and how to protect your privacy.

Google's discontinued Nest thermostats still secretly upload home data to company servers despite losing smart features, raising serious privacy concerns.

New Android malware NGate steals NFC payment codes in real-time, allowing criminals to withdraw cash from ATMs without your card. Learn protection tips.

DoorDash confirms data breach exposing customer names, emails, addresses after social engineering attack. Learn how to protect yourself from scams.

Concerned about Google's AI scanning your Gmail? Learn how to disable Gemini features that access your emails, Drive files and Chat messages for privacy.

Google warns Android users about dangerous fake VPN apps hiding malware that steals passwords, banking details and personal data from phones and tablets.

Apple's digital passport feature lets iPhone users breeze through TSA checkpoints this holiday season using Digital ID technology at 250+ airports.

A new phishing scam targets family photos with fake "Cloud Storage Full" alerts. Criminals steal credit card information through fake sites. Learn protection tips.

South Korean scientists create ultra-thin fabric muscles that turn clothes into robotic assistants, lifting 33 pounds while weighing under half an ounce.

Archer Aviation has acquired Hawthorne Airport for $126M to launch an LA air taxi network ahead of the 2028 Olympics, featuring AI-powered eVTOL operations and next-gen aviation tech.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Fake AI apps disguised as "ChatGPT" and "DALL·E" are flooding app stores with dangerous malware that steals data and monitors users without detection.

Fake buyers demand specific vehicle reports from unknown sites to steal credit card information from car sellers, but warning signs can help identify these scams before paying.

Android users can now manage apps across multiple devices more easily with Google Play Store's updated remote uninstall button in the latest update.

NASA's Perseverance rover discovers shiny metallic rock on Mars that could be a meteorite from an ancient asteroid, containing high levels of iron and nickel.

Holiday scams spike during Black Friday and Cyber Monday as criminals exploit your leaked personal data. Learn how to protect yourself from fake stores and phishing.

Commerce Department proposes TP-Link router ban over Chinese security risks. Learn how this potential prohibition could affect your home network and devices.

Hyundai AutoEver America suffered a data breach affecting 2,000 current and former employees, exposing names, Social Security numbers and driver's license information.

Washington court rules automated license plate reader images are public records, even when stored by vendors like Flock Safety, setting precedent for transparency.

Fake airline texts claiming flight cancellations are targeting travelers with convincing scams. Learn how cybercriminals steal personal data and credit card info.

Discover how iOS 26's new Adaptive Power feature automatically extends iPhone battery life by learning your usage patterns and adjusting performance intelligently.

New TikTok malware campaign tricks users into running PowerShell commands that download Aura Stealer, which steals credentials and authentication tokens.

Gaia Family offers fixed upfront pricing for IVF cycles with unlimited embryo transfers and financial protection, partnering with over 100 U.S. fertility clinics.

The Jetsons Act aims to position Pennsylvania as a leader in advanced air mobility by establishing regulations for hybrid ground-air vehicles.

Fake Geek Squad invoice emails are targeting users with convincing charges and urgent phone numbers to steal personal information and money.

Six Key Areas For Evaluating A Strategic Alliance

Strategic Planning