Business alliances and joint ventures

Characteristics of the entrepreneur

Like any other relationship, business alliances require a good dose of self-awareness. If you are contemplating a business alliance or joint venture you need to be aware of the characteristics that an entrepreneur must possess to succeed in a business alliance. In other words, you need to know what it takes to make the business alliance work.

PROPAT arms you with this knowledge and helps you uncover your personal business-alliance-related characteristics before committing your precious time and money to business alliances and joint ventures. This will help increase your chances of success.

Whether you are an entrepreneur or an executive about to be involved in a business alliance, PROPAT is a tool which helps you get in shape for this important business relationship. Business conditions may not be within your control, but your attitudes and behaviours are.

Why ‘PROPAT’

PROPAT stands for ‘PROpensity to Partner Assessment Tool’.

Propensity is really just another word for ‘tendency’, ‘inclination’. It can also be taken to mean 'readiness'.

PROPAT is a tool which helps you assess whether, and to what extent, you are ready to partner with another business. This could be a joint venture, strategic alliance, cooperation agreement or any other similar form of business alliance.

Rather than considering just the market conditions and business characteristics needed for business alliance success, PROPAT focuses on the characteristics of the entrepreneur or executive, the person behind the business...You.

How it works

Taking PROPAT is a simple process of responding to a brief on-line questionnaire. It takes around 5-8 minutes to complete the questionnaire. The questions are designed to assess your profile in terms of 17 key characteristics which have been established by prior research as affecting the propensity to partner. Best of all, the test is absoultely FREE!

On completing the questionnaire you will be presented with a score indicating your ‘propensity to partner’. Your score will give you a idea of how well prepared you are to succeed in a business alliance or joint venture.

Knowing your overall score, while most certainly a useful eye-opener, is only half of it. PROPAT can also tell you how you compare with other entrepreneurs and executives who have taken the test, and which areas in your 'alliance profile' you may need to work on to improve as a business partner. If you are involved in a family business you will also want to know how you compare with other family business executives. For a fee of €9.99 you may opt for the full report and receive same-day feedback about your profile which tells you:

1. What your PROPAT score means and tips on how you can improve.
2. How you compare with other executives and entrepreneurs who have taken the test.
3. How you compare with individuals who have been involved in business alliances before ('Allies) / other who have not ('Lone Rangers').
4. How you compare with family / non-family business managers .
5. How you scored on the individual characteristics known to affect the propensity to partner.
6. Your distinguishing characteristics, highlighting your strengths and other traits you need to be aware of.

How it was developed

PROPAT was developed on the basis of academic research about business alliances which identified 17 key characteristics affecting an entrepreneur's propensity to form a successful business alliance.

The hypotheses underlying PROPAT has been validated by empirical research which shows that entrepreneurs who have been involved in past business alliances demonstrate these characteristics to a much greater extent than those who have never participated in a business alliance or joint venture.

Learn more about personal characteristics and business alliances.