From the course: Strategic Partnerships

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Why chemistry is not enough

Why chemistry is not enough

From the course: Strategic Partnerships

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Why chemistry is not enough

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- When I hear that two CEOs are striking a deal because they have good personal chemistry, I cringe. Good personal relations can indeed help you work together better, but don't depend on this kind of chemistry to decide and manage a major deal. I worked with a large research organization after it had experienced the danger of CEO chemistry firsthand. My client had begun talking with a particular partner, because they happened to know someone there. They had just hired a scientist from the partner firm. True, that is often how the idea for a deal first arises, from chance connections. But in this case, the companies also fell in love right away, and didn't even consider other partners. The CEOs hit it off swimmingly. They visited each other's headquarters and worked out the details of the deal rapidly. My client promised to develop technology needed for a new product of the partner firm, and this product was a top priority of the CEO. And so my client had started the work and made…

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