Wikipedia defines Strategic Alliance as a formal relationship between two or more parties to pursue a set of agreed upon goals or to meet a critical business need while remaining independent organizations. Members of strategic alliance may benefited from the resources of other partners like unique product, well managed supply chain, knowledge and expertise, distribution channels, and intellectual property and other capital equipment etc. one of the key advantage and goals of the strategic collaboration is that it gives synergy effect in the business.
While talking about our firm recently we don’t do any strategic alliances or partnership of any kind.
“But world IT industry, in turn, are only part of the unstoppable trend in world business towards more and bigger alliances of all kinds. On the day that IBM and Toshiba unveiled their latest partnership, Wendy's, the fast food chain, announced a $400 million merger with a Canadian coffee and doughnuts chain, Horton. The two have been allies for four years, coming together to build 'combo' units selling both hamburgers and doughnuts. The reasons for the alliance are strikingly clear from the numbers”.
Any company who want to grow in the global market, alliance is the one of the key strategy to enjoy expertise, to achieve and enter new market, to reduce the cost of the business and for technological advantage and to gain competitive advantage.
Outsourcing can be defined as a contract with another company or another business to do a particular function of our business. In today’s competitive business world every company either one way or the other involved in outsourcing. But outsourced functions are usually not a core business. Meaning is that if we outsource certain function of our business from the third party then that function may not be our core business. For example, “An insurance company, for example, might outsource its janitorial and landscaping operations to firms that specialize in those types of work since they are not related to insurance or strategic to the business”.
Outsourcing can also said to occur when an organization transfers the ownership of a business process or functions to a supplier. In outsourcing, the buyer does not instruct the supplier how to perform its task but, instead, focuses on communicating what results it wants to buy; it leaves the process of accomplishing those results to the supplier.
While talking about our organization we do not outsource any functions from third party. We are the service oriented organization so we do all our functions by ourselves. But we may do it in the future as we are growing in terms of size and market coverage and market share. Our hospital is planning to outsource emergency physician contracts. If we outsource the emergency department physician’s administrators shed a major time-consuming problem area, improved service, and saved money. ED physician outsourcing is almost universal now in urban, rural, and community hospitals and it is successful too. But if we want to involve in outsourcing then it requires careful teamwork between our hospital and the outsourcing company to establish a clear, shared understanding of critical policies and procedures.
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