The R Company: Enable strategic alliances
As we experience the second-year mark of the global coronavirus crisis, one can see that many organizations show the need and interest to adapt their businesses to protect their people, continue to serve their clients and enable growth.
Nevertheless, it often lacks the right mindset and understanding of executing these necessary resilient strategies successfully.
For many, the global pandemic was a rude awakening. The crisis weakened most companies positions, and many tried to focus on business-model innovation to gain ground. Areas like digitalization, supply chain adjustments, sales-model changes, and new partnerships within and outside industries have proven to be helpful. In this week’s episode of our blog post series the R-Company, we are deep diving in these so-called strategic alliances as a key principle for resilient organizations.
Enable strategic alliances.
Achieving transformational growth as an organization is a tough task. An alternative to going solo is to collaborate in strategic alliances to share knowledge and create win-win situations.
A good strategic alliance is between two or more parties of equal position that provide complementary expertise to each other. They are often formed to increase access to a market or technology, to improve economies of scale, to bring a new service faster to the market and to spread risk.
Forming alliances with other businesses can expand the scope and capabilities of an organization. Alliances can last for years or be established for short-term solutions.
Either way: Rules to sustain a space for such alliances are necessary to provide a resilient path to growth.
To provide a nurturing ground for inspiring collaboration, it is important that organizations focus on the right values. For the implementation and endurance of inspiring values, a steady workflow on change management is required. At Avance we know that change does not happen by itself: It happens when theory meets practice with strong execution power. We strongly believe that change is driven by a combined set:
This critical understanding helps to figure out what organizations can supply and what it is that they are looking for. After all, strategic alliances are not about cutting differences, but about finding a way to utilize them in order to create value.
Leaders must actively foster collaborative behaviour to gain resilience through strategic connections through clearly understanding their position and their goals.
The rewards of focusing on resilient alliance practice can be great. Are you ready to reach out?
In our blog post series the R Company we have so far connected the dots between technical aspects like lean culture, agile performance and finally, inspiring collaboration. In our further approach towards the key principles of resilient organizations, we will be looking at what we think of as carrying the true potential for success: Knowledge and people.