June 22, 2012

Put the I Back in Alliances

Strategic partnerships yield great benefits for those involved, but they are fragile entities. To ensure success, remember these eight I's when forging alliances with other organizations:

Individual Excellence: Both sides bring strengths, and neither can be expected to prop up the other.

Importance: The relationship must matter strategically to both sides.

Interdependence: You need to need each other.

Investment: Have a stake in the partner's success.

Information: Transparency strengthens the partnership, hiding information impedes trust.

Integration: Creates several points of contact across the organizations.

Institutionalization: A formal structure can aid in objectivity and ensure the partnership works for both sides.

Integrity: Trust is critical and ethics are a must.

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