The topic of today’s strategy session was strategic alliances and how alliances can be used to build competitive advantage. The alliances can be Joint Ventures between two firms from two different countries. We discussed Otis Elevators entry into China through a Joint Venture with a Chinese firm. There were conflicts galore between them and the case discussion was on what we could learn from it.

I found many similarities between the dynamics of corporate alliances and marriage. Here is the summary of how I relate what i learnt to marriage

1. Building trust – this is the first step in laying the foundation for the smooth and sustainable future, for both marriage and business
2. Cultural Clashes – when two people / organizations come from two different backgrounds, there is bound to be differences. Patience and ability to think from others’ perspective required
3. Conflict over asymmetric investments/sacrifices – both parties may tend to think that they have invested / sacrificed more than the other party has invested/ sacrificed. It is important to keep the perceptions at manageable level.
4. Performance ambiguity – this is all about expectations management. Set performance to reach the mutually agreed milestones.
5. Conflict resolution – need capabilities to handle conflicts so that the running is smooth. Parent intervention or expert guidance is sometimes needed to resolve conflicts.

One thing that was not relevant to marriage was prior experience of having been in alliance. In case of corporates, it helps them to have had prior experience of having been in a joint venture.

Post Scriptum: My blog on Marriage and Marginal Utility had created certain impressions. I take this opportunity to clarify that these observations are purely at intellectual level and have no resemblance to mine or any other marriage that I would have observed. Btw, I have been married for a long time and quite enjoy my marriage. Keeping it in the highest vigor is enjoyable and in fact more challenging than managing any business situation. To me, Love – not money or power – is the elixir of life.