Question
In: Operations Management
What are the major challenges facing strategic alliances? Explain.
What are the major challenges facing strategic alliances? Explain.
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Expert Solution
The challenges of strategic alliance are
a. Choosing the right partner : The success or failure of the strategic aliance depands on who the partner is. A successful strategic aliance demands full dedication, integraty and commitment towards the partnership. So while choosing the partner it is very important to considee the values and policies of the partner.
b. Mutual benefits : In a world where self interest is the driving force of all the work it is difficult to form a partnership where benefit of the partner holds equal importnace. Even if the relationship gets built it again becomes a challenge to maintain that relationship for a longer period of time which demands honesty and trust.
c. Building trust and honesty : When a strategic alliance is formed a lot of information and data are shared between the partners for which it is important that the two parties holds a certain level of trust and honesty.
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