11.5.3 How to create a strategic alliance

Depending upon the motivations for collaboration, the company can begin to plan the preliminary stages which are shown in the following figure:

 Fig. 1. Preliminary stages in the formation of a strategic alliance1

Please stop and think: Imagine that your company has an innovative idea for a new product, but it does not have the resources and expertise to transform the idea into a product. According to what you have read, a strategic alliance could be a solution, couldn’t it? So why don’t you try to follow the stages of Figure 1 to form the alliance?

1 The content of the Figure is based on TEMAGUIDE