Yesterday was a beautiful Sunday in the Netherlands with a great opportunity to enjoy the sun. And so I did and in the mean time I used the opportunity to work my backlog of reports and papers I still had to read. I finally read the IBM 2012 CEO study. This study is the result of over 1700 one to one conversations IBM had with CEOs worldwide. The key findings IBM found that keep CEOs busy are around the topics of employees, customers and partnering.
When it comes to partnering it appears that nearly 70% of the CEOs are aiming to partner extensively. IBM looked at the performance of the companies and found that partnering gives outperformers the edge they need to tackle the toughest forms of innovation: Outperformers are 48% more likely to break into other industries and 98% to invent entirely new industries.
Another recent study, the 4th ASAP State of Alliance Management study, dives into the topic of alliance performance. This report shows an average alliance success rate of around 50%. The companies that have made investments in the alliance management process consistently report a better success rate with their alliances than the average—up to 80% success. The companies that approach alliances in an ad hoc fashion report a success rate of only 20%.
From both reports it seems clear that success is not an accident. To be successful in business one can no longer do it alone and partnering or creating alliances is needed. To be successful with alliances, you need to make the investment in alliance management capability and competency.
So, how do you prepare for successful partnering?
On Saturday the Alliance Mastery self-study went on pre-sale. This study has its focus on the alliance professional who wants to prepare for professional certification exam. It teaches the elements needed for successful partnering. This new self-study is based on the classroom workshops as developed by Phoenix Consulting Group and delivered by both Phoenix and Simoons & Company around the world. These workshops are available for in-house education as well as in open enrollment schedules.
One of IBMs recommendations in the report is to make partnering personal and broaden the responsibility for managing partnerships. This will only be successful when the employees in an organization realize what alliance best practices entail and what the do’s and don’ts are when dealing with partners. Hence it is essential to educate your employees on this topic to increase partnering success rate.
This is where we come in and can be of help. It is our mission to help you to create your strategic alliance success and to do so we coach, train (like with the workshops) and assess in the area of strategic alliances.
Let’s have a conversation about it: how do you prepare for successful partnering?