The formulation of alliances and partnerships is a global trend that is growing at an exponential rate. In the United States, alliances now account for 18% of the revenue of Fortune 1,000 companies. In Europe, alliances are growing at an even faster rate, and already represent over 30% of revenue. According to recent surveys, 82% of United States executives believe alliances will be a prime vehicle for future growth, and managing alliances is consistently mentioned as one of their three biggest challenges.
Using examples in the oil and gas industry in Canada and Australia, this article details three key capabilities that are critical to alliance success. Some new approaches to effective partnering in any environment or industry are offered, to help in reframing the challenges that inevitably arise.