Alliances have long been a part of company
strategy. They are prominent in most industries, generally occurring to gain
access to markets, expertise and technology, and to share risks and costs. Partnering is
central to the strategies of many well-known technology companies, including Cisco,
IBM, and Microsoft. The global airline alliances have provided companies in that
industry with opportunities to leverage each
others' resources and better serve customers.
Energy companies partner to access and operate natural resource fields. Consumer
goods companies ally to seek new sources of
product. Within biopharmaceuticals, alliances have become an essential strategic tool as the
cost and risk of developing new medicines has increased.
In many industries, alliances account for more than half of revenues and new
products. The message is clear. In every industry
the economic imperative is to establish and grow the alliances needed to create the
business value that drives strategic and financial outcomes. By nature, alliances are
complex. As a result, despite their promise, many alliances aren't successful. Studies
conducted by McKinsey and others have shown that fewer than 50% of alliances achieve
their objectives. To remedy this situation,
scholars, consultants, and industry practitioners
have developed a body of knowledge to guide partnering organizations in making
the management of alliances a repeatable and consistent process. In doing so, the
success rate has improved and the processes, practices, and tools of alliance
management have come to be recognized as a unique professional management discipline. |
