The Human Side of Partnerships - Successfully managing strategic alliances means putting people first. - BioPharm International

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The Human Side of Partnerships
Successfully managing strategic alliances means putting people first.


BioPharm International


  • Portfolio management. The company's various alliances are treated as a single portfolio and managed as a whole, keeping in individual alliance performance as well as organizational strategy. Alliance types are tiered so that resources are allocated according to predetermined criteria—partner interdependence and internal complexity, for example.This also ensures that multiple relationships with the same partner are managed with optimal efficiency.

Note that alliance capability is built in at every level so that every activity can be executed across many people and many alliances consistently and collaboratively.

The Big Picture As alliances between pharma and biopharma companies become increasingly complex and the sums and reputations at risk continue to rise, the importance of developing the ability to systematically manage differences between companies that elect to partner will only grow.

Companies can manage these differences by creating a collaborative mindset and cultivating appropriate behaviors with all the tools and techniques at their disposal.

Companies that meet these challenges will eventually be rewarded with more than just new relationships. They will also see their existing alliances function more smoothly, making it more likely that they—and their partners—will succeed.

Stuart Kliman, Laura Visioni, and Larraine Segil are all consultants at Vantage Partners, a Boston-based relationship management consulting firm. They can be reached at
,
, and
, respectively.


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