limousine Chicago airport Aroma Park ... Chicago Drug testing

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.

? Copyright 2004, Catherine Franz. All rights reserved.

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://abundance.blogs.com

In The News:

NASA flight engineer Kathleen "Kate" Rubins set out on her fourth career spacewalk on Friday, in an effort to ready the International Space Station (ISS) for solar array upgrades.
Astronauts from NASA and the Japan Aerospace Exploration Agency (JAXA) have embarked on the year's fourth spacewalk to service the International Space Station.
NASA is slated to announce what it says is a "series of firsts" in its Mars 2020 Perseverance rover mission.
A flutter of earthquakes shook Oregon's Mount Hood on Monday. 
SpaceX's Falcon 9 rocket successfully launched 60 new Starlink satellites early Thursday morning.
An ancient Egyptian papyrus version of "Mummification for Dummies" has been revealed by a Danish Egyptologist as the oldest how-to guide yet found.
For the first time in history, astronomers have detected what they've deemed a "space hurricane" in Earth's upper atmosphere.
The asteroid Apophis, nicknamed the "God of Chaos," will pass by Earth on Friday.
Residents of the U.K. were surprised over the weekend when a slow-moving meteor blazed across the night sky.
A massive iceberg, larger than New York City, recently broke off from an ice shelf in Antarctica, according to researchers on Friday. 

Describing Intellectual Property in Your Business Plan

Most companies that are worthy of raising venture capital have... Read More

Planning For The Slow Season Of Your Business To Increase Sales

Every business experiences slower periods. For some, they sell more... Read More

Take A Systems View To Ensure Your Business Stays Healthy

How are you feeling today? Good, not so good, great?... Read More

Changing Strategy Without Losing Your Customers - Three Vital Steps to Refining Your Strategy

American Eagle Outfitters and Wet Seal Stores have issued statements... Read More

Business Process Methodologies

I've either been involved with or held a process-related role... Read More

City of Cortez and South Western Colorado Market Survey

We have been spending many hours surveying the market for... Read More

The Top Ten Rules of Effective Networking

Many of us are discouraged by the networking events that... Read More

Building a Better Brick-and-Mortar with the Billion-Dollar Web

More than $117 billion passed hands from Internet shoppers to... Read More

How to Write a Business Plan Market Analysis

Writing a business plan is an essential part of the... Read More

Content Management: Wise Investment for Business Prosperity

The time when a website was just a simple set... Read More

Creating a Vision That Achieves Results

How important is a vision statement to your company or... Read More

SWOT Analysis

If you've ever listened to Warren Buffett talk about investing,... Read More

A Rough Cut on Feasibility

A piano tuner recently moved to Buffalo, NY, and would... Read More

Laying It Out On Paper

You might be thinking to yourself, "Why should I waste... Read More

Executive Summary for Business Plans of Franchisees

Writing a business plan for a franchised outlet of a... Read More

The Chief Cause of Business Failure & Success

Business rises and falls on leadership. According to business guru,... Read More

Corporate Venturing For Emerging Growth Companies

The boom of the dot-com era in 1999 brought the... Read More

Site Selection and Demographic Tips for Establishing Outlets

Many cities have home pages on the Internet. Many of... Read More

Business Plan 101 How to Write a Table of Contents

No matter what business you plan to start in your... Read More

How to Achieve E-commerce Success ?You Gotta Plan!

Before becoming a netpreneaur, I was an entrepreneur. First, I... Read More

Why Do a Business Plan?

To Grow (Catapult) Your Business That's Why.When it's in your... Read More

Shortening Product Life Cycle!

The current state of the available technology at the disposal... Read More

The Power of Strategic Thinking: Creating Meaningful Success

Too much goal setting and strategic planning can leave you... Read More

Break-Even Analysis

A significant advantage of some business ideas is that the... Read More

6 Changes You Can Make to Increase Business Profits

I read once that something like 30 percent of all... Read More

remodel old church into home south barrington bachman roofing ...