In order to extract the most benefit from alliances, managers need to:
A)Focus on the social and psychological phenomenon of the relationship rather than the economic aspects.
B)Emphasize competition.
C) Foster trust with partners.
D) Practice opportunism.

Question

In order to extract the most benefit from alliances, managers need to:
A)​Focus on the social and psychological phenomenon of the relationship rather than the economic aspects.
B)​Emphasize competition.
C) ​Foster trust with partners.
D) ​Practice opportunism.

Quizplus · Accepted Answer

Foster trust with partners. Trust is crucial for building strong alliances as it helps to create credibility and mutual understanding, enabling partners to better communicate and collaborate towards shared goals. Trust also helps prevent opportunistic behavior, which can undermine the alliance and damage relationships. Therefore, managers need to work towards fostering trust with their partners to ensure the success of the alliance. Focusing solely on the social and psychological aspects of the relationship or practicing opportunism can be detrimental to the alliance, while emphasizing competition may lead to a win-lose situation rather than a mutually beneficial partnership.

In Order to Extract the Most Benefit from Alliances, Managers