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OVERVIEW: To sustain strong growth in innovation driven industries, companies increasingly have to complement their internal efforts with external opportunities. For many firms, partnering can provide quick, flexible, affordable access to new capabilities that represent a better strategic option than mergers and acquisitions. Likewise, collaborative efforts can help companies get the most value from internal resources that no longer support their plans. The key to successful alliances is consistently effective implementation that enables partners to achieve their respective goals. So, companies that pursue partnering-oriented strategies must establish and continually refine the organizational structures, business processes and talent pool required to "find, get and create value from" external relationships.
Document Type: Research Article
Publication date: November 1, 2001
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Research-Technology Management has been publishing peer-reviewed articles covering the entire spectrum of technological innovation since 1958. RTM is a leading source of knowledge and best practices on innovation management, from research and development through product development to marketing, for leaders of research, development, and engineering worldwide.