To determine:
The need to carry out strategic
Introduction:
Strategic partnership comprises of an agreement or contract between two or more parties/organization under which all stakeholders agree to share resources, capital and skills in order to have a solution for an underlying problem.
Answer to Problem 1IC
It can be said that, it is difficult to manage and carry out the operation associated with a huge project that involves natural gas highway by a single company .Therefore, forming a strategic partnership will not only help in partnering the resources and technique, but will also help in addressing the issues in detail resulting in completing of the project in an efficient and effective manner.
Explanation of Solution
In this situation, clean energy fuels and Navistar international have entered into an agreement for building a natural gas highway of America. It stands significant to enter into partnership for undertaking such a huge project because it would be technically difficult for a single organization to carry out and manage the operations involved in the creation of natural gas highway. Formation of strategic alliance provides benefit to both allies and the problems related to the project can be addressed in detail.
The factor that encourages business to enter into alliance is shown below:
1. Global market access- formation of alliance helps in providing access to markets across the globe.
2. Increased revenue- Sharing resources and skills provide a chance to the allies to walk around new market for implementation of new ideas which leads to an increase in the company’s revenue. It has been stated by senior executives associated with different companies that their revenue has increased to a great extent through their alliance with other companies.
3. Capturing new customer- Every organization has an access to a limited number of customers that falls in their field of work. However, strategic alliance provides an opportunity to the company to grab customers in the markets that were previously inaccessible.
4. Exploring new areas of business- Strategic alliance provides the opportunity to the allies in exploring areas that are new for the business. The companies are able to work in new markets and increase their understanding of different type of customers. This helps in the expansion of the companies with respect to financial and physical context.
Want to see more full solutions like this?
Chapter P3 Solutions
MINDTAP F/UNDERSTANDING MGMT
- Assess leadership capacity development by describing a leadership development framework, identifying high-potential employees, outlining mentoring and coaching programmes, forming cross-functional teams and projects, detailing stakeholder management strategies, overcoming resistance to change, providing conflict resolution strategies, identifying future leaders, and fostering a culture of continuous learning and growth. Include tactics for dealing with opposition and resolving problems.arrow_forwardGeert Hofstede's cultural dimensions theory is a framework for cross-cultural communication, which describes the effects of a society's culture on the values of its members, and how these values relate to behavior. The four dimensions that Hofstede identified are: power distance, uncertainty avoidance, masculinity vs. femininity, and individualism vs. collectivism. According to Hofstede's research, the Philippines scores high on the Power Distance Index (PDI), which means that the society accepts an unequal distribution of power and people understand their place in the system. The Uncertainty Avoidance Index (UAI) is also high, indicating that the society does not tolerate uncertainty and ambiguity, and tries to minimize the possibility of such situations by strict laws and rules, safety and security measures. The country scores low on the Individualism (IDV) dimension, which means that the society is Collectivist as compared to Individualist. This is manifest in a close…arrow_forwardHow would you monitor the strategy process to ensure that your strategic initiative succeeds? What should be monitored and why? Which Key Performance Indicators (KPIs) needed to be measured and monitored?arrow_forward
- Compare and contrast descriptive statistics and inferential statistics. Explain the relationship of population, sampling frame, sampling design, and generalization.arrow_forwardThe research methods used to collect data are Qualitative and Quantitative. If True, discuss. If False, discuss.arrow_forwardIs it important to define the research problem before we collect the data?arrow_forward
- Context: I'm a Business Management major in my senior year at University Question: What do you think is your strongest ability and how did you end up being good at it?arrow_forwardI'm a Business Management major in my senior year at University Question: What would you and others say are five of your personality pluses? And Why?arrow_forwardI'm a Business Management major in my senior year at University Question: What new skills have you learned in the last year? And why were they worth learning?arrow_forward
- of the various structures in place today, what do you see as the most beneficial to a technology-laden, forward-thinking organization, and why?arrow_forwardSarah Anderson, the Marketing Manager at Exeter Township's Cultural Center, is conducting research on the attendance history for cultural events in the area over the past ten years. The following data has been collected on the number of attendees who registered for events at the cultural center. Year Number of Attendees 1 700 2 248 3 633 4 458 5 1410 6 1588 7 1629 8 1301 9 1455 10 1989 You have been hired as a consultant to assist in implementing a forecasting system that utilizes various forecasting techniques to predict attendance for Year 11. a) Calculate the Three-Period Simple Moving Average b) Calculate the Three-Period Weighted Moving Average (weights: 50%, 30%, and 20%; use 50% for the most recent period, 30% for the next most recent, and 20% for the oldest) c) Apply Exponential Smoothing with the smoothing constant alpha = 0.2. d) Perform a Simple Linear Regression analysis and provide the adjusted…arrow_forwardWhat tend to be the strengths and weaknesses of a group project in university? Describe.arrow_forward
Understanding Management (MindTap Course List)ManagementISBN:9781305502215Author:Richard L. Daft, Dorothy MarcicPublisher:Cengage Learning
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Management, Loose-Leaf VersionManagementISBN:9781305969308Author:Richard L. DaftPublisher:South-Western College Pub