1 / 17

Strategic Alliances

Strategic Alliances . Michael Stershic Executive Director Lehigh Valley CVB. What is a Strategic Alliance?. A formal or informal relationship with another organization that benefits both. Why Consider Them?. Resources Community Support Infrastructure Limitations Trends.

bell
Download Presentation

Strategic Alliances

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Strategic Alliances Michael Stershic Executive Director Lehigh Valley CVB

  2. What is a Strategic Alliance? • A formal or informal relationship with another organization that benefits both.

  3. Why Consider Them? • Resources • Community Support • Infrastructure Limitations • Trends

  4. Why Consider Them? • Resources • Need something • Can’t grow or expand • Existence may be threatened • Weak in certain areas

  5. Why Consider Them? • Community Support • Board Strength • Contributions or other investment coming in (or not) • Recruiting Volunteers • Attracting new members • Image

  6. Why Consider Them? • Infrastructure Limitations • Small staff spread too thin • Reporting and accountability requirements • Emerging needs/regulations

  7. Why Consider Them? • Trends • Many new nonprofits formed annually • Accountability structures • Technology • Stakeholder interest in efficiency • Funder preference • Emergence of niche business players

  8. How to get started • Assess • Explore • Define

  9. How to get started - 1 • Assess • Identify critical needs • Identify and research potential partners • Compare strengths with your needs • Intangibles

  10. How to get started – 2 • Explore • Potential partner organization(s) • Mutually acceptable goals • Cultural and Organizational compatibility • Deal breakers

  11. How to get started -3 • Define • A service vision • An alliance form • An implementation plan • Who does what and when • Who pays for what • Decision making procedures • Goals and outcomes for measurement

  12. Important Principles • Take your time • Build Trust • Communicate, communicate, communicate

  13. Components of a successful alliance • Support of Boards and CEO’s • Boards approve clearly articulated components in advance. • Multiple forms of communications – good and bad news

  14. Components of a successful alliance • Face to face contact • Flexibility • Shared successes • Exit strategy

  15. To put this in perspective… Think of these relationships as a courtship and a marriage

  16. Example from another industry • Developing an adult day care center

  17. Thank You! • Any Questions?

More Related