Partner Traits Needed in Strategic Alliance Research

Partner Traits Needed in Strategic Alliance
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Partner Traits Needed in Strategic Alliance
The best strategy of learning and acquiring necessary skills and specific capabilities is forming a strategic alliance. By definition, strategic alliance refers to a business relationship or agreement made between two or more individuals (partners) who intend to pursue a given objective Albers, Wohlgezogen & Zajac (2016). However, partners in the relationship remain independent and maintain separate entities. Therefore, the alliance lacks legal partnership requirements. It main is to help every partner accomplish strategic goals that would be impossible to realize on their own.
Some of the desirable qualities that make a good partner in a strategic alliance are highlighted as follows. First, each partner should definitely become a similar clientele (similar partner) but not necessarily have exact capabilities as other partners. Secondly, each partner should add value to the rest of the partners (non-competitive). According to (Albers, Wohlgezogen & Zajac, 2016), strategic alliance majorly focuses on building capacity to improve the preferred outcome. In addition, a strategic alliance requires an innovative and a flexible partner. Flexibility would allow him or her to share within each partner’s culture while being innovative, useful ideas.
The essence of engaging in a strategic alliance is to identify a specific partner with similar objectives and is willing to corporate, put various ideas together and invent an effective strategy. Therefore, the three traits; non-competitive, flexible and innovative partners would help in creating a collaborative team environment (Albers, Wohlgezogen & Zajac, 2016). The strategic alliance would be successful because partners are willing to pool resources and share useful skills. They enhance the prod...