How to Restore a Business Relationship Gone Sour
Initiating, developing and managing a strategic partnership can be an immensely challenging endeavor; one that most business owners are simply not prepared to engage. With all of the effort that has to be invested into building the ideal strategic alliance, it is of the utmost importance to manage it effectively. Due to the intricate details that go into selecting the right partner and nurturing the relationship, it is recommended that business owners contract a third-party specialist who has the experience to effectively initiate, develop and manage the strategic partnership.
Hiring a strategic alliance manager can help ensure that the partnership remains a win-win situation for both parties. A good manager will also be able to help relieve the tension when these relationships become strained; however, even the best of relationship will be tested, and despite great effort, some will go sour. It is important to understand that just because a strategic alliance goes sour, does not mean that the partnership should be abandoned.
While it can be tempting to allow personal feelings to intrude upon the business agreement, this should be avoided at all cost, because …show more content…
This is normally due to a breakdown in communication. In fact, communication is one element that should be monitored extensively, because it will prove to be one of the first indicators of when there may be a potential problem. Normally, when there is a problem, an individual that is responsible for maintaining communication between the organizations will likely shift their communication patterns. It is simply a natural progression. By monitoring communication, it will make you aware of the potential problem long before it develops into a major issue. Once aware of the problem, you must immediately engage
Initiating, developing and managing a strategic partnership can be an immensely challenging endeavor; one that most business owners are simply not prepared to engage. With all of the effort that has to be invested into building the ideal strategic alliance, it is of the utmost importance to manage it effectively. Due to the intricate details that go into selecting the right partner and nurturing the relationship, it is recommended that business owners contract a third-party specialist who has the experience to effectively initiate, develop and manage the strategic partnership.
Hiring a strategic alliance manager can help ensure that the partnership remains a win-win situation for both parties. A good manager will also be able to help relieve the tension when these relationships become strained; however, even the best of relationship will be tested, and despite great effort, some will go sour. It is important to understand that just because a strategic alliance goes sour, does not mean that the partnership should be abandoned.
While it can be tempting to allow personal feelings to intrude upon the business agreement, this should be avoided at all cost, because …show more content…
This is normally due to a breakdown in communication. In fact, communication is one element that should be monitored extensively, because it will prove to be one of the first indicators of when there may be a potential problem. Normally, when there is a problem, an individual that is responsible for maintaining communication between the organizations will likely shift their communication patterns. It is simply a natural progression. By monitoring communication, it will make you aware of the potential problem long before it develops into a major issue. Once aware of the problem, you must immediately engage