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Building-Strong-Alliances.pptx
- 1. Building Strong Alliances In this presentation, we explore the factors that determine tie strength between first-time alliance partners during their first new product development project. By understanding how interorganizational learning, communication, and economic transactions are intertwined, we can determine how to establish successful partnerships. Linh Lê - DBA8.HCM
- 2. Interorganizational Learning Tacit and Explicit Effective learning can be explicit or tacit, dependent on implicit knowledge or knowledge that can be readily articulated. Complementary Technical Skills Partners need complementary technical skills to achieve shared learning goals. Trust and Collaboration Establish trust and collaboration by openly sharing knowledge and information.
- 3. Communication in Partnerships 1 Frequency of Communication Regular communication is key to establishing and maintaining strong partnerships. 2 Rich Communication Partners need to communicate effectively with context-specific language to transfer critical knowledge and promote shared understanding. 3 Engagement Successful alliances require the active engagement and support of leadership from both partners.
- 4. Transaction Cost Economics Reducing Costs Partners must identify ways to reduce transaction costs to ensure efficient processes. Avoiding Opportunism Partners must strategically address the risk of opportunism that can arise in new partnerships. Insurance and Guarantees Partners can utilize insurance policies and performance guarantees to insure against risk and build trust.
- 5. Project Characteristics 1 Innovation Degree Partners must determine whether their NPD project is radical or incremental in terms of innovation. 2 Mode of Development Partners must identify whether their NPD project is modular or integrated in its approach. 3 Timing Partner coordination and timely management is critical for successful project development.
- 6. Technical Skills Skill Bridge Partners need to ensure their technical skills complement one another. Increasing Efficiency By leveraging partners'core competencies, coordination costs can be minimized and the efficiency of the project can be maximized Effective Collaboration Partners with similar technical skills can utilize their expertise to find innovative solutions efficiently.
- 7. Social Tie Strength Market Overlap Partners must be aware of their market overlap as well as potential competition to foster strong partnerships Handshake Partners need to establish trust through shared experiences and mutual support as they work toward common goals. Diversity and Inclusion Partnerships benefit from diverse perspectives and skillsets to provide comprehensive solutions.
- 8. Conclusion Building successful alliances requires careful consideration of multiple factors, from interorganizational learning to communication and transaction cost economics. Partnerships require a foundation of trust and shared goals, fostered by frequent communication and engagement from leadership. By leveraging complementary technical skills, minimizing transaction costs, considering project characteristics, and recognizing market overlap, alliances can be designed to achieve maximum success.