Filene has received some great feedback and interest on its recent research publication, Connecting the Dots on Credit Union Collaboration. It reminded me of an interesting article that I read near the end of last year in Harvard Business Review.
In the November 2007 issue of HBR, the article Simple Rules for Making Alliances Work summarized the following 5 key principles to successful collaboration between your organization and another:
1) Focus less on defining the business plan and more on how you’ll work together;
2) Develop metrics pegged not only to alliance goals but also to alliance progress;
3) Instead of trying to eliminate differences, leverage them to create value;
4) Go beyond formal governance structures to encourage collaborative behavior; and
5) Spend as much time on managing internal stakeholders as on managing the relationship with your partner.
See their Web site for more articles on collaboration: www.hbr.org and think about how your credit union can make the most of current and future alliances.
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