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The Idea in BriefDevelop the right working relationship. Define exactly how you'll work together.Peg metrics to progress. Alliances require time to pay off financially.Leverage differences.Encourage collaboration.Manage internal stakeholders.
Step 1: Identify Potential Partners.Step 2: Research Potential Partners.Step 3: Make the First Call.Step 4: The First Meeting.Step 5: Identify Specific Opportunities.Step 6: Establish Revenue/Profit Goals.Step 7: Develop an Agenda.Step 8: Present the Plan.More items...
There are three types of strategic alliances: Joint Venture, Equity Strategic Alliance, and Non-equity Strategic Alliance.
The deal between Starbucks and Barnes&Noble is a classic example of a strategic alliance. Starbucks brews the coffee. Barnes&Noble stocks the books. Both companies do what they do best while sharing the costs of space to the benefit of both companies.
A prominent strategic alliance example is the partnership between Spotify and Uber. The strategic alliance between the two organizations allows Uber users to connect to Spotify and stream their favorite music while on a ride.