Strategic Alliance Agreement Style 81

A strategic alliance is an arrangement between two companies that have decided to share resources to undertake a specific, mutually beneficial project. A strategic alliance is less involved and less binding than a joint venture, in which two companies typically pool resources to create a separate business entity. This phase focuses on creating frameworks both legally and organizational for the strategic alliance relationship, on agreeing and finalizing operational plans, making sure that key leadership is in place, and creating a formula for risk-and-reward that will motivates both parties to make the relationship a success. This phase ends with the contract being signed. In this phase in the life of a strategic alliance, an internal structure occurs under which its functions develop. While operating it, the alliance becomes an own new organization itself with members from the origin companies with the aim of meeting all previously set objectives and improving the overall performance of the alliance which requires effective structures and processes and a good, strong and reliable leadership. This phase focuses on creating frameworks both legally and organizational for the strategic alliance relationship, on agreeing and finalizing operational plans, making sure that key leadership is in place, and creating a formula for risk-and-reward that will motivates both parties to make the relationship a success. This phase ends with the contract being signed.

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