Week 5 LT Essay Example | Topics and Well Written Essays - 250 words

Week 5 LT - Essay Example succeeded have always made the appropriate choices on the particular metrics to use, and ensuring that they are updated on a regular basis in ensuring that they are up to the task in their performances (Goetsch and Davis, 2012). Ideally, by the formations of partnerships and other similar associations, companies can hasten product development as well as a fastened marketing, which otherwise would take long periods to achieve. Alliances never create value automatically; however, achievement of success requires the development of performance measures dealings without a full-blown acquisition, thereby requiring the use of metrics for development and implementation of successful alliances (Goetsch and Davis, 2012). Development of metrics for quantification of benefits generated by a company is tedious; therefore, requiring a balanced scorecard, which measures the overall quality of the working relationship, the strategic value and the operational effectiveness together with the financial performance (Goetsch and Davis, 2012). Ideally, a balanced scorecard shows precise appropriateness in the measurement of a number of aspects, contrary to metrics in that overreliance on financial metrics is a shortsighted development, such as an example of establishing an underperforming alliance for the sake of remaining relevant in a competitive