Question

What costs are incurred in developing strategic alliances? how can these costs be managed?

Answer 1

There are various costs incurred by the organizations  at the time of strategic alliance are the costs like

Inventory management costs, human resource management cost, processing cost  general forecasting and miscommunication costs, product cost, maintainence cost, equipment cost, quality issues and  controlling cost etc. costs  are incurred.

All of  the above given costs are to be effectively managed by both the firms. These costs could be managed by having a detailed budgeting, planning, accurate forecasting and analysis of the environments of the organization.

Knowing  it beforehand that  what you are going to do in your organization, you can pre plan the requirement of the resources to achieve them accordingly.

By forecasting as well as studying about the organization, you can also have an estimate  of the idea regarding how well you are performing or not and thus can take right decision to invest and control the costs to have a good rate of success.

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