Unlocking Opportunities for Growth: How to Profit from Uncertainty While Limiting Your Risk

6. Applying Opportunity Engineering Throughout Your Business

Opportunity Engineering applies to your business wherever and whenever uncertainty exists about future outcomes. In this chapter, we explore some major areas in which OE can prove helpful in running your business.

Joint Ventures, Licenses, and Alliances

Coalition activities such as joint ventures, licenses, and alliances can meaningfully reduce the uncertainty surrounding a strategy. For instance, a joint venture can mitigate your market uncertainties when your partner company has distribution channels or contacts that will allow faster market access for a new product. This affects uncertainty by reducing the time to market and reducing costs. Licenses from your partner can provide ...