Virginia Strategic Alliance Agreement Contract
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How to fill out Strategic Alliance Agreement Contract?
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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.
Deloitte's Strategic Alliance Life Cycle framework divides creation and execution into three phases that can help organizations develop a successful partnership effort: setting alliance strategy, developing the deal, and managing the resulting partnership.
As shown, the four elements are: Complementarities, Congruence of goals, Compatibility of organizations, and Change that will occur over the anticipated timeframe of the 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.
The key elements of a strategic alliance agreement include the purpose of the agreement, the obligations of each party, any financial arrangements, confidentiality, dispute resolution and termination provisions.
Be specific: Decide how many people from each company will be involved in the alliance and what their particular roles will be. Each party has to dedicate resources to the relationship, and both parties need someone within their organization who will champion the cause.
Strategic partners also benefit from shared risks and increased brand awareness. On the other hand, the primary disadvantages of strategic alliances are conflicts of interest, lack of commitment and transparency, increased liability, and shared profits.
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.