The Right Way To Make Alliances Work

Given the economy, it is more important than ever to manage strategic alliances well. A key factor in your success is to construct and manage each alliance for which you are responsible as a business. Your job is to bring the right framework, the right organization, and the right relationships together to move the project forward. Another point: your approach needs to look at the big picture rather than short-term payoffs. "Winning" and beating the other company in negotiations may doom the relationship from the beginning. One of the biggest mistakes you can make is thinking that alliances are all about hammering out an air-tight deal structure, negotiating hard, and planning for every eventuality.