In the third of the current series of network sessions our group of ambitious owner-managers decided they would like to focus on the theme of ‘strategic alliances’. This was a theme that had emerged through the network’s formation meeting, and had clearly been seen as a priority by the group. Before we set off designing the day, it was important to understand what participants really wanted to explore, understand and apply in the area of strategic alliances, and this short introductory blog provides and insight to this.
This is what we heard
Towards the end of the second network session, aside to identifying the theme of strategic alliances, we made time to explore what this theme really meant to participants. Through this discussion, the following questions emerged from the group:
- What is a strategic alliance? Defining what a strategic alliance is seemed to be a good place to start!
- What is the purpose of a strategic alliance? Strategic alliances were seen as massively important in accessing resources and building value.
- Who’s important? How do we identify alliance partners? Participants were keen to reflect on the positioning of their organisations in their value chain, along with the nature of relationships with customers and supplier, now and in the future. Within this debate, participants spoke of a need to develop the criteria they use to identify and select alliance partners and quantify the value of alliances to ensure resource use is maximised.
- How do we practically work with alliance partners in a way that maximises the chances of success? Participants spoke of their desire to stay true to their values when building alliances, the need to better understand the ways in which reward and risk are shared, and how alliance performance is monitored and reviewed.
This is what we interpreted
As we reflected on the above needs and wants of participants we drew out the following desired outcomes to inform the design for the day:
- explore what ‘strategic alliance’ means, and our experiences of being in great strategic alliances;
- experience and consider the purpose and motives for developing strategic alliances;
- learn and challenge ourselves through the alliance selection process;
- consider how to deliver successful outcomes for your strategic alliances;
- evaluate our explorations and define the foundations of successful strategic alliances;
- develop an action plan for improvement.
So we set off to read, discuss and develop these into the key sections of the day. Through this set of three blogs we will aim to address these desired outcomes, capture the discussions from the group and share our observations. So stay tuned for a range of learnings that will focus on the following topics:
- Why? Defining the Purpose and Motives of Strategic Alliances
- Who? Identifying and Selecting the Right Partners
- How? Working together successfully
The BIG Network provides a space for ambitious owner-managers to explore, challenge and resolve issues that are central to the sustainable success of their organisations. The network is led by its members and is prefaced on openness and honesty, mutual respect and confidentiality.
For further information on the BIG Network contact Dr Simon Raby on 01227 824740 or S.O.Raby@kent.ac.uk