Strategic alliances occur when two separate businesses join together to offer a broader set of skills or services to joint clients, to the mutual benefit of both companies. An alliance between companies that provide different, but complementary, services or products allows both companies to create an advantage over competitors by broadening the scope of their operations. Alliances can make your business more valuable to your client, expand your business, multiply your sales force, and give you a dependable supplier of the aligned service or product. The alliance benefits both partners. Good agreements open new doors for the partners and allow room to evolve as future opportunities occur.
Successful alliances create new value through collaboration.
Partners must value the skills each party brings to the alliance. For an alliance to flourish, both parties must be involved in managing the partnership. An alliance without trust and respect is doomed to failure.