As 2023 draws to a close, we reflect on the transformative events and advances in alliance management that have shaped the operating landscape over the year.
Below, we draw on the presentations and discussions in which we participated, with our partners and many great thought leaders, to highlight key takeaways for alliance managers and point to some resources to support your successful alliance management in 2024 and beyond.
1. Continuous adaptation and improvement
From geopolitics to technology, our world is evolving, and businesses are adapting by relying more and more on partnerships to innovate faster while managing risks and costs. This translates into broader and more diversified alliance portfolios and the need for alliance management teams to evolve their approaches.
Since 2021 allianceboard has been running an index measuring key alliance management metrics such as the level of development of alliance management competency within the organization, digital maturity, and the impact of these factors on business outcomes such as value realization in strategic alliances, strategic agility as well as risk management and operational efficiency.
In parallel, Heads of Alliance Management point to the need for investment in alliance management capacity building.
This article reviews our latest data cut and explains how you can get your own free benchmark to compare your current practices and outcomes against our index.
2. Risk Management and Resilience:
A volatile environment underscores the importance of robust risk management strategies, including in strategic alliances. Business leaders are now placing greater emphasis on building resilient alliances that can withstand unforeseen challenges.
This includes comprehensive risk assessments, scenario planning, and the incorporation of flexibility into alliance agreements, ensuring adaptability in the face of unexpected circumstances.
Managing risk in strategic alliances is therefore gaining importance and requires a structured approach.
3. Data-Driven Decision-Making:
Strategic planning processes increasingly rely on data-driven insights. Now more than ever, alliance management teams have an imperative to structure their information and leverage it to support senior leaders, engage effectively with operational stakeholders, and support their own decisions and actions.
This article reviews how effective alliance management teams support strategic decision-making processes and the achievement of business outcomes: Driving Better Business Decisions through Strategic Management Intelligence.
As 2024 approaches and the alliance management landscape continues to evolve, we see the alliance management function maturing and increasingly contributing at a strategic level in organizations toward the achievement of business value. To this end, we have prepared a comprehensive guide with our partners at The Rhythm of Business, to support alliance management teams in making the case for investment in alliance management: Making the Case: The Value of Investing in Alliance Management.
We hope you will find these resources helpful. We wish you a wonderful year-end holiday season!