Why do most companies enter a strategic alliance?
In simple terms, strategic alliances are almost always about increasing sales and revenue, typically because the combination is expected to provide the two partners access to new markets and / or enhanced capabilities in existing markets…. the 1 + 1 = 3 effect!
Cost sharing, skills and access to new market are also common. More recently relationships are formed to foster innovation whereby the partners share competencies and skills to accelerate bringing new products and solutions to market more rapidly.
How would collabtogrow define a successful alliance?
A successful alliance is one in which meets or exceeds the goals and expectations of the partners and their stakeholders. The alliance should also exhibit trust between the partners and returns tangible value to each partner.
Have you set goals and expectations? If not, Contact Us.
In three words, why do alliances typically fail?
Ambiguous, misaligned, unexecuted.
What opportunities does Boston offer that other cities do not in terms of forming strategic alliances?
Since a critical element to successful alliances is continual partner engagement, one unique opportunity for many Boston (and northeast corridor) firms is geographic proximity and industry concentration. There are a number of Industries (Pharma / Biopharma, Financial Services, etc.) concentrated in the Boston, NY, Philly, and DC triangle where partners can regularly meet face-to-face within a couple of hour commute and for reasonable costs.