With global markets slowing, companies are seeking new sources of growth. One way to find it is through strategic partnerships. Done properly, they can yield new products, solutions and business models.
Many, alas, are done poorly. A 2015 study by management consultants Vantage Partners showed that 19% of partnerships failed and less than half completely achieved their objectives due to poor execution. Problems often stem from patchy communications between alliance partners, which can result in finger-pointing when things do not go according to plan. Sales teams may also fail to cooperate, either because of misaligned incentives or because competitive overlap between the partners generates apprehension about working collaboratively.