corporate alliances are growing in number—by about 25% a year—and account for up to a third of revenues and value at many companies. these include focusing less on the business plan and more on the partnership’s working relationship and, rather than suppressing disagreements, exploring conflicts to find sources of value in partner companies’ differences. and despite an abundance of advice on how to make alliances work, that dismal record hasn’t improved in the past decade. companies have learned the hard way not to enter into an alliance without a detailed business plan and contract. recently, during a rigorous analysis of the company’s alliance portfolio, executives discovered that although they had carefully structured their business arrangements and documented them in detailed contracts, many of their alliances were failing to live up to their full potential. for example, the company tracks the number of issues that are sent up, or escalated, to a joint alliance oversight committee for resolution.
they erode the partners’ ability to make use of the very differences that prompted formation of the alliance in the first place. just as partners need to focus on building a strong working relationship at the start of an alliance, so they need to nurture that relationship throughout the life of the partnership. to encourage behavior that would further the goals of their alliance, the drug manufacturer aventis and the biotechnology company millennium pharmaceuticals created a list of formal protocols to be followed by people working on the alliance. this is all the more surprising given that 90% of alliance managers cite a collaborative mind-set and behaviors as critical to success. the future will belong to those companies that embed alliance management capabilities into the fabric of their culture and how they do business.” the good news is that companies have radically improved their alliance success rates by incorporating the practices described in this article. according to one company, they have helped it achieve or exceed the goals in 90% of its alliances.
a partnership company is formed when the parties involved agree to share the business’s profits or losses proportionately. partners invest finances and personal assets in the business concern, equally or proportionally, according to the terms of their partnership agreement or contract. in alliances, the parties contribute specific assets and finances according to the terms of the alliance. in a partnership, the partners are responsible for the financial obligations of the company. in the case of an alliance, the partners are not liable for the losses incurred by each other in their individual operations.
when a partner authorized to act on behalf of the company conducts business transactions, the other partners are bound by the dealings. for example, if the parties entered into the alliance to share new technology, they are not liable for the stock purchase deals of the others. alliances contribute to the growth of their members because they can offer a wider range of services to customers and clients. by forming an alliance, they can market both products as a combination deal, leading to better sales for both. a partnership may dissolve if one of the partners expires, becomes bankrupt or quits the partnership for any reason.
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