What are the five critical criteria for successful alliances. Exhibit 11 1. The alliance has a clear

What are the five critical criteria for successful alliances.

Exhibit 11

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1. The alliance has a clear strategic purpose-alliances are never an end in or of themselves, they provide tools to achieve a business strategy 2. Good partner fit-a partner with compatible goals and complementary capabilities 3. Specialized partner roles-allocate tasks and responsibilities in the alliances in a way that enables each party to do what they do best 4. Create incentives for cooperation-working together never happens automatically, particularly when partners were former rivals 5. Minimize conflicts between partners-the scope of alliance and of partners' roles should avoid pitting one against the other in the market 6. Share information continual communication develops trust and keeps joint projects on target 7. Exchange personnel regardless of the form of the alliance, personal contact and site visits are essential for maintaining communication and trust 8. Operate with long time-horizons-mutual forbearance in solving short-run conflicts is enhanced by the expectation of long-term gains 9. Develop multiple joint projects-successful cooperation on one project can help partners weather the storm in less successful joint projects 10. Be flexible alliances are open-ended and dynamic relationships that need to evolve in pace with their environment and in pursuit of new opportunities