This document provides an overview of strategic alliances and competitive advantages. It discusses how strategic alliances allow firms to combine resources to gain competitive advantages. The document defines strategic alliances and compares them to traditional relationships. It outlines various theories for why firms form alliances, including transaction cost theory and resource dependency theory. The document also discusses different types of strategic alliances and provides examples. The overall purpose is to examine how alliances can reshape competition and what determines the success of firms competing through alliances.
3 The competitive advantage of strategic alliances.pdfShivamYadav8517
This document discusses strategic alliances and their competitive advantages. It provides examples of alliances in different industries. Strategic alliances allow companies to access new markets, technologies, and skills. They provide competitive advantages such as entering new markets, confronting competition, overcoming trade barriers, and dividing risks. However, alliances also have disadvantages such as costs, blocking other opportunities, and exposing companies' technologies.
3 The competitive advantage of strategic alliances.pdfShivamYadav8517
This document discusses strategic alliances and their competitive advantages. It provides examples of alliances in different industries. Strategic alliances allow companies to access new markets, technologies, and skills. They provide competitive advantages such as entering new markets, confronting competition, overcoming trade barriers, and dividing risks. However, alliances also have disadvantages such as costs, blocking other opportunities, and exposing companies' technologies.
A strategic alliance is an agreement between two or more independent organizations to pursue shared objectives while maintaining their own independent operations. Partners in a strategic alliance contribute resources like products, distribution channels, manufacturing capabilities, funding, equipment, knowledge, expertise, or intellectual property. The alliance aims to create synergies where the joint benefits are greater than what each partner could achieve alone. Key factors for a successful strategic alliance include clear goals, partner compatibility, commitment to the long-term relationship, and ensuring the capabilities of each partner are well-aligned. Famous strategic alliances that have been successful include the partnerships between Starbucks and Barnes & Noble, Disney and HP, and Northwest Airlines and KLM.
Alliances and joint-ventures the way forward in Relation marketing in ZimbabweBernard Tapiwa Sithole
The document discusses various types of strategic alliances and joint ventures, providing definitions and examples. It outlines the six markets framework for relationship marketing and applies it to MSU Zimbabwe. It then distinguishes between joint ventures and strategic alliances, providing characteristics and examples of each. The document also discusses benefits and risks of strategic alliances for universities in Zimbabwe and outlines seven common types of strategic alliances - joint ventures, outsourcing, affiliate marketing, licensing, product licensing, franchising, and R&D alliances - giving definitions and examples of each.
This document discusses strategic alliances and networks in supply chains, with a focus on knowledge management and performance measurement. It defines strategic alliances as collaborative agreements between vertically aligned firms in a supply chain. Knowledge management is introduced as a way to understand information sharing in strategic alliances. Performance evaluation of strategic alliances is challenging when the alliance is not structured as a separate profit center. The document proposes evaluating alliances based on a continuum from certain to uncertain inputs and outputs.
7 Assessing the Performance of Strategic Alliances.pdfShivamYadav8517
Strategic alliances have become increasingly important for many organizations. However, few organizations formally evaluate alliance performance. The authors propose using a balanced scorecard approach to develop a formal evaluation process. A balanced scorecard links performance measures to alliance objectives. To create an evaluation plan, an organization must understand the rationale, resources, risks, and form of the alliance to determine the appropriate metrics. Relational risks may require controls over decision making, while performance risks focus on short-term financial metrics. The balanced scorecard can be customized to suit different types of alliances.
This document discusses various strategies for collaboration and innovation, including bounded innovation approaches, technology-enabled collaboration, and reasons for collaboration versus solo development. Some key points discussed are:
1. Bounded innovation approaches focus innovation efforts on customer needs, future trends, or disrupting existing markets.
2. Technology can enable collaboration by allowing people to discover common interests, exchange information, and build relationships.
3. Challenges of collaboration include different objectives between groups and lack of experience working together.
4. A significant portion of innovation comes from collaborative efforts between multiple individuals and organizations.
There are several types of strategic alliances that companies can form, including joint ventures, equity alliances, and non-equity alliances. Successful strategic alliances require factors like trust between partners, senior management support, clear goals, compatibility between partners, and a long-term commitment to achieving mutual benefits. Potential pitfalls include a lack of commitment, poor planning, diverging strategies between partners, inflexibility, and unrealistic expectations.
3 The competitive advantage of strategic alliances.pdfShivamYadav8517
This document discusses strategic alliances and their competitive advantages. It provides examples of alliances in different industries. Strategic alliances allow companies to access new markets, technologies, and skills. They provide competitive advantages such as entering new markets, confronting competition, overcoming trade barriers, and dividing risks. However, alliances also have disadvantages such as costs, blocking other opportunities, and exposing companies' technologies.
3 The competitive advantage of strategic alliances.pdfShivamYadav8517
This document discusses strategic alliances and their competitive advantages. It provides examples of alliances in different industries. Strategic alliances allow companies to access new markets, technologies, and skills. They provide competitive advantages such as entering new markets, confronting competition, overcoming trade barriers, and dividing risks. However, alliances also have disadvantages such as costs, blocking other opportunities, and exposing companies' technologies.
A strategic alliance is an agreement between two or more independent organizations to pursue shared objectives while maintaining their own independent operations. Partners in a strategic alliance contribute resources like products, distribution channels, manufacturing capabilities, funding, equipment, knowledge, expertise, or intellectual property. The alliance aims to create synergies where the joint benefits are greater than what each partner could achieve alone. Key factors for a successful strategic alliance include clear goals, partner compatibility, commitment to the long-term relationship, and ensuring the capabilities of each partner are well-aligned. Famous strategic alliances that have been successful include the partnerships between Starbucks and Barnes & Noble, Disney and HP, and Northwest Airlines and KLM.
Alliances and joint-ventures the way forward in Relation marketing in ZimbabweBernard Tapiwa Sithole
The document discusses various types of strategic alliances and joint ventures, providing definitions and examples. It outlines the six markets framework for relationship marketing and applies it to MSU Zimbabwe. It then distinguishes between joint ventures and strategic alliances, providing characteristics and examples of each. The document also discusses benefits and risks of strategic alliances for universities in Zimbabwe and outlines seven common types of strategic alliances - joint ventures, outsourcing, affiliate marketing, licensing, product licensing, franchising, and R&D alliances - giving definitions and examples of each.
This document discusses strategic alliances and networks in supply chains, with a focus on knowledge management and performance measurement. It defines strategic alliances as collaborative agreements between vertically aligned firms in a supply chain. Knowledge management is introduced as a way to understand information sharing in strategic alliances. Performance evaluation of strategic alliances is challenging when the alliance is not structured as a separate profit center. The document proposes evaluating alliances based on a continuum from certain to uncertain inputs and outputs.
7 Assessing the Performance of Strategic Alliances.pdfShivamYadav8517
Strategic alliances have become increasingly important for many organizations. However, few organizations formally evaluate alliance performance. The authors propose using a balanced scorecard approach to develop a formal evaluation process. A balanced scorecard links performance measures to alliance objectives. To create an evaluation plan, an organization must understand the rationale, resources, risks, and form of the alliance to determine the appropriate metrics. Relational risks may require controls over decision making, while performance risks focus on short-term financial metrics. The balanced scorecard can be customized to suit different types of alliances.
This document discusses various strategies for collaboration and innovation, including bounded innovation approaches, technology-enabled collaboration, and reasons for collaboration versus solo development. Some key points discussed are:
1. Bounded innovation approaches focus innovation efforts on customer needs, future trends, or disrupting existing markets.
2. Technology can enable collaboration by allowing people to discover common interests, exchange information, and build relationships.
3. Challenges of collaboration include different objectives between groups and lack of experience working together.
4. A significant portion of innovation comes from collaborative efforts between multiple individuals and organizations.
There are several types of strategic alliances that companies can form, including joint ventures, equity alliances, and non-equity alliances. Successful strategic alliances require factors like trust between partners, senior management support, clear goals, compatibility between partners, and a long-term commitment to achieving mutual benefits. Potential pitfalls include a lack of commitment, poor planning, diverging strategies between partners, inflexibility, and unrealistic expectations.
It is now generally accepted in the M&A domain that most mergers fail. And yet despite the dangers and horror sagas associated with M&A transactions, these types of business combinations are here for good because they are now the principal route to rapid business growth for many firms.The burning question therefore is: how can firms that aspire to grow through mergers and acquisitions increase their chances of success?The point of departure for M&A should be development of an M&A strategy that is anchored on the firm‟s overall business strategy. The firm should adopt a structured approach that covers the whole M&A process; set metrics for evaluating M&A targets; and actively engage in searching for potential targets. The criteria used to spot the right target could include business strategy, potential synergies, market availability, scale of activities, geographical location, technology, market growth potential and, business and culture fit. The type of merger should be another consideration, in which case bottom-trawlers, bolt-ons, line extension equivalents and consolidation mature, all with over 50% success rate, should be prioritized.The firm should then carry out comprehensive due diligence and objectively/accurately evaluate synergies. With respect to synergies, the acquirer should establish beforehand what synergies exist, where those synergies exist and how they will be extracted. Once a deal is closed, it is necessary to establish its success or failure, post-merger.M&A success should be considered from the shareholders of the acquirer‟s perspective, and an M&A should be judged successful if Net RealisableSynergies exceed Acquisition Purchase Premium. M&A critical success factors include merger segmentation considerations, the type of acquisition, timing, APP, effective integration, economic certainty and accurate target valuation.
Una explicación breve y sencilla acerca de la alianza estratégica en ingles, con ejemplos, tipo-logias, ventajas y desventajas y con su Web-Grafía para investigar mas a fondo.
A brief, simple explanation about the strategic alliance in English, with examples, type-lodges, advantages and disadvantages and its Web-graphy to investigate more thoroughly.
Strategic alliances allow businesses to gain competitive advantages through accessing a partner's resources like markets, technologies, capital and personnel. The document defines strategic alliances as partnerships between two or more businesses that join together for a set period of time to pursue mutual interests while retaining independence. It discusses the characteristics, stages of formation, types, advantages and disadvantages, risks, success factors and provides an example of Apple's strategic alliance with Clearwell. In conclusion, strategic alliances can be a cost-effective growth strategy if managed properly to help companies develop and exploit their unique strengths through team efforts.
This document discusses factors that determine the success of strategic alliances between firms. It identifies three key factors for success at each phase of an alliance's lifecycle: 1) Partner selection during formation considers complementarity, compatibility, and commitment between partners. 2) Governance design determines whether equity or contractual provisions adequately address transaction hazards. 3) Ongoing alliance management relies on coordination mechanisms, trust-building, and conflict resolution to realize benefits. The document also notes contingencies where some factors may be more important and opportunities to transfer alliance management capabilities to acquisitions.
Joint ventures and strategic alliances allow companies to grow in four ways: organic growth, strategic alliances, joint ventures, and mergers/acquisitions. Strategic alliances involve partnerships where organizations remain independent while aligning long-term goals for mutual benefit. Joint ventures form a new legal entity governed by partnership law, where parties contribute to a specific venture for a set time period and scope. While similar, strategic alliances are generally less formal than joint ventures and allow for more flexibility.
The document discusses strategy formulation in business management. It defines strategy as a systematic plan to achieve future objectives. The key stages in strategy formulation are extensive research and analysis, determining strategic goals and plans, and implementing plans through strategic management. There are three levels of strategy: corporate, business, and operational. The summary effectively captures the main points about defining strategy and outlining the strategy formulation process in 3 sentences.
The document discusses factors that determine the success of strategic alliances between firms. It summarizes that:
1) Alliance success depends on factors at each stage of the alliance life cycle, including partner selection, alliance design, and ongoing management.
2) Key factors for partner selection include complementarity of resources, commitment of the partner, and compatibility of working styles and culture between partners. However, commitment and compatibility may be more important than complementarity under some conditions.
3) Proper alliance design includes setting up appropriate governance to oversee the alliance. Ongoing management requires efforts to realize value from the alliance over time.
4) Emerging issues include alliances with non-profits or individuals
Strategic management managing mergers and acquisitionsIJBBR
This document discusses mergers and acquisitions from a strategic management perspective. It defines mergers and acquisitions, explaining that mergers occur when two equal companies join together under a new name, while acquisitions refer to one company purchasing another. Companies undertake mergers and acquisitions for strategic reasons like entering new markets, increasing revenues and market share, and achieving synergies. Proper screening of potential targets through due diligence is important to ensure mergers and acquisitions are successful and achieve their strategic objectives.
Strategic management managing mergers and acquisitionsIJBBR
In this paper we have discussed what mergers and acquisitions are and how they are a part of any
organizations strategic planning policy. Organizations ‘merge’ generally with similar organizations or
‘acquire’ weaker organizations, and the essence as to why they do so is that the value of two is greater than
one. They basically merge with or acquire each other’s strengths and try to overcome one another’s
weaknesses thus leading to increased market shares and profitability. We have discussed the various
rationales for mergers and acquisitions like the strategic rationale, speculative rationale, management
failure rationale etc, along with their types that include vertical integration, horizontal integration and
conglomeration. We have also put light on how companies go strategically about mergers and acquisitions.
The merger and acquisition life cycle aided by real examples (case studies) will offer a vivid understanding
of these concepts to the reader.
Introduction to Strategic alliance & it's meaningdiyaparikh152
This document provides information about a strategic alliance formed between various group members. It lists the names and roll numbers of group members. It then defines strategic alliance and provides characteristics, reasons, types, tasks in startup phase, benefits, risks, and measures of success for strategic alliances. Strategic alliances allow firms to enter new markets, reduce costs, and develop technology through cooperation rather than competition. Success requires clarity, commitment, communication and shared values between alliance partners.
An strategic alliance is an arrangement between two or more companies to share resources for a specific, mutually beneficial project. It can help companies expand into new markets, develop advantages over competitors, or more effectively process. Strategic alliances go through stages of assessment, contract negotiation, alliance operation, and potentially termination. They benefit companies by providing new skills, technology, products, distribution channels and knowledge. However, they also carry risks like loss of control, weaker management involvement, poor resource allocation and less efficient communication over time.
This document provides guidance on strategic partnerships between technology companies. It discusses the benefits of partnerships, such as speeding development time and reducing risks. Key factors for successful partnerships include mutual respect, shared goals/vision, commitment, trust, and fairly shared risk. Partnerships can take many forms on a spectrum from low to high cooperation. Higher involvement like joint ventures require more due diligence. Forming partnerships is similar to forming other relationships as compatibility, communication and adapting to change are important. Termination of partnerships should also be planned for as circumstances change. Special considerations for small firms partnering with much larger ones include approaching the larger firm during slower times when speculative ventures may be more appealing.
The document discusses external growth strategies for companies. It defines external growth as growth through external resources rather than internal activities, such as mergers and acquisitions (M&A) or strategic alliances. M&A involves an exchange of ownership between companies, while strategic alliances allow companies to pursue shared objectives independently. The document provides details on mergers, acquisitions, equity and non-equity alliances. It notes that external growth can help companies access new markets, technology, and resources to diversify and increase efficiency.
Rapid Advance - Nov 2010 - Table of Contents, First Chapter and References - ...Dave Litwiller
This document provides guidance on strategic partnerships between technology companies. It discusses the benefits of partnerships, such as speeding development time and reducing risks. Key factors for successful partnerships include mutual respect, shared goals/vision, commitment, trust, and risk sharing. The level of cooperation in a partnership can range from basic agreements to joint ventures or acquisitions. Due diligence is important for evaluating potential partners. Planning for terminating partnerships is also recommended given changing markets. Special considerations are discussed for small companies partnering with much larger ones.
Contracts can pay you dividends discusses research from the International Association for Contract & Commercial Management (IACCM) that found most companies are losing revenue and profit opportunities due to ineffective contracting processes. The research identified 25 top-performing companies in contract management and found they shared six key traits: 1) developing effective working relationships, 2) defining requirements, 3) managing transitions, 4) measuring performance, 5) managing change, and 6) career development for contract managers. These traits help optimize contracting value and ensure economic interests are protected and enhanced over the long-term relationship between parties.
Senior Seminar in Business Administration BUS 499Coope.docxWilheminaRossi174
Senior Seminar in Business Administration
BUS 499
Cooperative Strategy
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2009). BUS499: Strategic management: Competitiveness and globalization, concepts and cases: 2009 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Cooperative Strategy.
Please go to the next slide.
ObjectivesUpon completion of this lesson, you will be able to:Identify various levels and types of strategy in a firm
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm.
Please go to the next slide.
Supporting TopicsStrategic alliancesCooperative strategiesCompetitive risks
In order to achieve this objective, the following supporting topics will be covered:
Strategic alliances;
Cooperative strategies; and
Competitive risks.
Please go to the next slide.
Strategic AlliancesCooperative strategyStrategic allianceCombination of resources and capabilitiesExchange and sharing of resourcesFirms leverage existing resourcesCornerstone of many firms’ competitive strategy
Recognized as a viable engine of firm growth, cooperative strategy is a strategy in which firms work together to achieve a shared objective. Thus, cooperating with other firms is another strategy firms use to create value for a customer that exceeds the cost of providing that value and to establish a favorable position relative to competition.
A strategic alliance is a cooperative strategy in which firms combine some of their resources and capabilities to create a competitive advantage. Thus, strategic alliances involve firms with some degree of exchange and sharing of resources and capabilities to co-develop, sell, and service goods or services. Strategic alliances allow firms to leverage their existing resources and capabilities while working with partners to develop additional resources and capabilities as the foundation for new competitive advantages. To be certain, the reality today is that strategic alliances have become a cornerstone of many firms’ competitive strategy.
Please go to the next slide.
Strategic Alliances, continuedJoint ventureEquity strategic allianceNonequity strategic alliance
The three major types of strategic alliances include joint venture, equity strategic alliance, and nonequity strategic alliance.
A joint venture is a strategic alliance in which two or more firms create a legally independent company to share some of their resources and capabilities to develop a competitive advantage. Joint ventures, which are often formed to improve firms’ abilities to compete in uncertain competitive environments, are effective in establishing long-term relationships and in transferring tacit knowledge. Because it can’t be codified, tacit, or implied, knowledge is learned through experiences such as those taking place when people from partner firms work together in a join.
1. The document discusses different strategies for collaboration versus going solo on innovation projects. It outlines reasons for both approaches and different types of collaborative arrangements like strategic alliances, joint ventures, outsourcing, and collective research organizations.
2. Key factors that influence the choice between collaborating or going solo include the availability of internal capabilities, risks of exposing proprietary technologies, and the desire to control technology development. Successful collaboration depends on choosing partners that are a good resource and strategic fit and establishing governance mechanisms.
3. The various collaborative strategies each offer different tradeoffs in terms of speed, cost, control, and potential for developing or accessing capabilities that a firm should consider when forming collaboration strategies.
8 Strategic Alliances_Comparative Analysis of Successful Alliances.pdfShivamYadav8517
This document discusses strategic alliances between companies. It defines strategic alliances as agreements between two or more independent firms to share resources to achieve common objectives. The document outlines different types of strategic alliances, motives for forming them, and compares strategic alliances to traditional relationships, joint ventures, and mergers. It also provides examples of successful strategic alliances between large companies and analyzes factors needed to ensure alliance success, such as integrating organizations at multiple levels.
This document provides five strategies for corporations to strengthen partnerships with bilateral donor agencies:
1. Identify shared opportunities where both parties can achieve more through partnership than alone.
2. Gather intelligence on donor priorities, funding, and programs to identify alignment.
3. Adapt negotiation and contracting approaches to use common language and clearly define roles.
4. Invest in the partnership through dedicated staff, open communication, and formal governance structures.
5. Embrace monitoring and evaluation to jointly measure impact and inform decision-making.
Following these strategies can help corporations close gaps with donors and facilitate more sustainable development partnerships.
This document discusses customer relationship management (CRM) and various relationship marketing strategies. It covers topics such as the inadequacies of traditional marketing mix approaches, the benefits of relationship marketing like gaining loyal customers, and different types of business relationships from transactional to collaborative. Key aspects of CRM are discussed, including developing trust and commitment between partners. The document also examines customer profitability analysis and strategies for managing both profitable and unprofitable customers.
Retail Management A Strategic Approach, Global Edition by Barry R. Berman, Jo...ShivamYadav8517
This document provides an overview of the 13th edition of the textbook "Retail Management: A Strategic Approach." It includes a brief contents listing the chapters and parts of the book. The preface thanks family members for their support and encouragement of the authors. It also lists the production team involved in creating the global edition of the textbook.
More Related Content
Similar to 2 An Overview of Strategic Alliance.pdf
It is now generally accepted in the M&A domain that most mergers fail. And yet despite the dangers and horror sagas associated with M&A transactions, these types of business combinations are here for good because they are now the principal route to rapid business growth for many firms.The burning question therefore is: how can firms that aspire to grow through mergers and acquisitions increase their chances of success?The point of departure for M&A should be development of an M&A strategy that is anchored on the firm‟s overall business strategy. The firm should adopt a structured approach that covers the whole M&A process; set metrics for evaluating M&A targets; and actively engage in searching for potential targets. The criteria used to spot the right target could include business strategy, potential synergies, market availability, scale of activities, geographical location, technology, market growth potential and, business and culture fit. The type of merger should be another consideration, in which case bottom-trawlers, bolt-ons, line extension equivalents and consolidation mature, all with over 50% success rate, should be prioritized.The firm should then carry out comprehensive due diligence and objectively/accurately evaluate synergies. With respect to synergies, the acquirer should establish beforehand what synergies exist, where those synergies exist and how they will be extracted. Once a deal is closed, it is necessary to establish its success or failure, post-merger.M&A success should be considered from the shareholders of the acquirer‟s perspective, and an M&A should be judged successful if Net RealisableSynergies exceed Acquisition Purchase Premium. M&A critical success factors include merger segmentation considerations, the type of acquisition, timing, APP, effective integration, economic certainty and accurate target valuation.
Una explicación breve y sencilla acerca de la alianza estratégica en ingles, con ejemplos, tipo-logias, ventajas y desventajas y con su Web-Grafía para investigar mas a fondo.
A brief, simple explanation about the strategic alliance in English, with examples, type-lodges, advantages and disadvantages and its Web-graphy to investigate more thoroughly.
Strategic alliances allow businesses to gain competitive advantages through accessing a partner's resources like markets, technologies, capital and personnel. The document defines strategic alliances as partnerships between two or more businesses that join together for a set period of time to pursue mutual interests while retaining independence. It discusses the characteristics, stages of formation, types, advantages and disadvantages, risks, success factors and provides an example of Apple's strategic alliance with Clearwell. In conclusion, strategic alliances can be a cost-effective growth strategy if managed properly to help companies develop and exploit their unique strengths through team efforts.
This document discusses factors that determine the success of strategic alliances between firms. It identifies three key factors for success at each phase of an alliance's lifecycle: 1) Partner selection during formation considers complementarity, compatibility, and commitment between partners. 2) Governance design determines whether equity or contractual provisions adequately address transaction hazards. 3) Ongoing alliance management relies on coordination mechanisms, trust-building, and conflict resolution to realize benefits. The document also notes contingencies where some factors may be more important and opportunities to transfer alliance management capabilities to acquisitions.
Joint ventures and strategic alliances allow companies to grow in four ways: organic growth, strategic alliances, joint ventures, and mergers/acquisitions. Strategic alliances involve partnerships where organizations remain independent while aligning long-term goals for mutual benefit. Joint ventures form a new legal entity governed by partnership law, where parties contribute to a specific venture for a set time period and scope. While similar, strategic alliances are generally less formal than joint ventures and allow for more flexibility.
The document discusses strategy formulation in business management. It defines strategy as a systematic plan to achieve future objectives. The key stages in strategy formulation are extensive research and analysis, determining strategic goals and plans, and implementing plans through strategic management. There are three levels of strategy: corporate, business, and operational. The summary effectively captures the main points about defining strategy and outlining the strategy formulation process in 3 sentences.
The document discusses factors that determine the success of strategic alliances between firms. It summarizes that:
1) Alliance success depends on factors at each stage of the alliance life cycle, including partner selection, alliance design, and ongoing management.
2) Key factors for partner selection include complementarity of resources, commitment of the partner, and compatibility of working styles and culture between partners. However, commitment and compatibility may be more important than complementarity under some conditions.
3) Proper alliance design includes setting up appropriate governance to oversee the alliance. Ongoing management requires efforts to realize value from the alliance over time.
4) Emerging issues include alliances with non-profits or individuals
Strategic management managing mergers and acquisitionsIJBBR
This document discusses mergers and acquisitions from a strategic management perspective. It defines mergers and acquisitions, explaining that mergers occur when two equal companies join together under a new name, while acquisitions refer to one company purchasing another. Companies undertake mergers and acquisitions for strategic reasons like entering new markets, increasing revenues and market share, and achieving synergies. Proper screening of potential targets through due diligence is important to ensure mergers and acquisitions are successful and achieve their strategic objectives.
Strategic management managing mergers and acquisitionsIJBBR
In this paper we have discussed what mergers and acquisitions are and how they are a part of any
organizations strategic planning policy. Organizations ‘merge’ generally with similar organizations or
‘acquire’ weaker organizations, and the essence as to why they do so is that the value of two is greater than
one. They basically merge with or acquire each other’s strengths and try to overcome one another’s
weaknesses thus leading to increased market shares and profitability. We have discussed the various
rationales for mergers and acquisitions like the strategic rationale, speculative rationale, management
failure rationale etc, along with their types that include vertical integration, horizontal integration and
conglomeration. We have also put light on how companies go strategically about mergers and acquisitions.
The merger and acquisition life cycle aided by real examples (case studies) will offer a vivid understanding
of these concepts to the reader.
Introduction to Strategic alliance & it's meaningdiyaparikh152
This document provides information about a strategic alliance formed between various group members. It lists the names and roll numbers of group members. It then defines strategic alliance and provides characteristics, reasons, types, tasks in startup phase, benefits, risks, and measures of success for strategic alliances. Strategic alliances allow firms to enter new markets, reduce costs, and develop technology through cooperation rather than competition. Success requires clarity, commitment, communication and shared values between alliance partners.
An strategic alliance is an arrangement between two or more companies to share resources for a specific, mutually beneficial project. It can help companies expand into new markets, develop advantages over competitors, or more effectively process. Strategic alliances go through stages of assessment, contract negotiation, alliance operation, and potentially termination. They benefit companies by providing new skills, technology, products, distribution channels and knowledge. However, they also carry risks like loss of control, weaker management involvement, poor resource allocation and less efficient communication over time.
This document provides guidance on strategic partnerships between technology companies. It discusses the benefits of partnerships, such as speeding development time and reducing risks. Key factors for successful partnerships include mutual respect, shared goals/vision, commitment, trust, and fairly shared risk. Partnerships can take many forms on a spectrum from low to high cooperation. Higher involvement like joint ventures require more due diligence. Forming partnerships is similar to forming other relationships as compatibility, communication and adapting to change are important. Termination of partnerships should also be planned for as circumstances change. Special considerations for small firms partnering with much larger ones include approaching the larger firm during slower times when speculative ventures may be more appealing.
The document discusses external growth strategies for companies. It defines external growth as growth through external resources rather than internal activities, such as mergers and acquisitions (M&A) or strategic alliances. M&A involves an exchange of ownership between companies, while strategic alliances allow companies to pursue shared objectives independently. The document provides details on mergers, acquisitions, equity and non-equity alliances. It notes that external growth can help companies access new markets, technology, and resources to diversify and increase efficiency.
Rapid Advance - Nov 2010 - Table of Contents, First Chapter and References - ...Dave Litwiller
This document provides guidance on strategic partnerships between technology companies. It discusses the benefits of partnerships, such as speeding development time and reducing risks. Key factors for successful partnerships include mutual respect, shared goals/vision, commitment, trust, and risk sharing. The level of cooperation in a partnership can range from basic agreements to joint ventures or acquisitions. Due diligence is important for evaluating potential partners. Planning for terminating partnerships is also recommended given changing markets. Special considerations are discussed for small companies partnering with much larger ones.
Contracts can pay you dividends discusses research from the International Association for Contract & Commercial Management (IACCM) that found most companies are losing revenue and profit opportunities due to ineffective contracting processes. The research identified 25 top-performing companies in contract management and found they shared six key traits: 1) developing effective working relationships, 2) defining requirements, 3) managing transitions, 4) measuring performance, 5) managing change, and 6) career development for contract managers. These traits help optimize contracting value and ensure economic interests are protected and enhanced over the long-term relationship between parties.
Senior Seminar in Business Administration BUS 499Coope.docxWilheminaRossi174
Senior Seminar in Business Administration
BUS 499
Cooperative Strategy
Hitt, M.A., Ireland, R.D., & Hoskisson, R.E. (2009). BUS499: Strategic management: Competitiveness and globalization, concepts and cases: 2009 custom edition (8th ed.). Mason, OH: South-Western Cengage Learning.
Welcome to Senior Seminar in Business Administration.
In this lesson we will discuss Cooperative Strategy.
Please go to the next slide.
ObjectivesUpon completion of this lesson, you will be able to:Identify various levels and types of strategy in a firm
Upon completion of this lesson, you will be able to:
Identify various levels and types of strategy in a firm.
Please go to the next slide.
Supporting TopicsStrategic alliancesCooperative strategiesCompetitive risks
In order to achieve this objective, the following supporting topics will be covered:
Strategic alliances;
Cooperative strategies; and
Competitive risks.
Please go to the next slide.
Strategic AlliancesCooperative strategyStrategic allianceCombination of resources and capabilitiesExchange and sharing of resourcesFirms leverage existing resourcesCornerstone of many firms’ competitive strategy
Recognized as a viable engine of firm growth, cooperative strategy is a strategy in which firms work together to achieve a shared objective. Thus, cooperating with other firms is another strategy firms use to create value for a customer that exceeds the cost of providing that value and to establish a favorable position relative to competition.
A strategic alliance is a cooperative strategy in which firms combine some of their resources and capabilities to create a competitive advantage. Thus, strategic alliances involve firms with some degree of exchange and sharing of resources and capabilities to co-develop, sell, and service goods or services. Strategic alliances allow firms to leverage their existing resources and capabilities while working with partners to develop additional resources and capabilities as the foundation for new competitive advantages. To be certain, the reality today is that strategic alliances have become a cornerstone of many firms’ competitive strategy.
Please go to the next slide.
Strategic Alliances, continuedJoint ventureEquity strategic allianceNonequity strategic alliance
The three major types of strategic alliances include joint venture, equity strategic alliance, and nonequity strategic alliance.
A joint venture is a strategic alliance in which two or more firms create a legally independent company to share some of their resources and capabilities to develop a competitive advantage. Joint ventures, which are often formed to improve firms’ abilities to compete in uncertain competitive environments, are effective in establishing long-term relationships and in transferring tacit knowledge. Because it can’t be codified, tacit, or implied, knowledge is learned through experiences such as those taking place when people from partner firms work together in a join.
1. The document discusses different strategies for collaboration versus going solo on innovation projects. It outlines reasons for both approaches and different types of collaborative arrangements like strategic alliances, joint ventures, outsourcing, and collective research organizations.
2. Key factors that influence the choice between collaborating or going solo include the availability of internal capabilities, risks of exposing proprietary technologies, and the desire to control technology development. Successful collaboration depends on choosing partners that are a good resource and strategic fit and establishing governance mechanisms.
3. The various collaborative strategies each offer different tradeoffs in terms of speed, cost, control, and potential for developing or accessing capabilities that a firm should consider when forming collaboration strategies.
8 Strategic Alliances_Comparative Analysis of Successful Alliances.pdfShivamYadav8517
This document discusses strategic alliances between companies. It defines strategic alliances as agreements between two or more independent firms to share resources to achieve common objectives. The document outlines different types of strategic alliances, motives for forming them, and compares strategic alliances to traditional relationships, joint ventures, and mergers. It also provides examples of successful strategic alliances between large companies and analyzes factors needed to ensure alliance success, such as integrating organizations at multiple levels.
This document provides five strategies for corporations to strengthen partnerships with bilateral donor agencies:
1. Identify shared opportunities where both parties can achieve more through partnership than alone.
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3. Adapt negotiation and contracting approaches to use common language and clearly define roles.
4. Invest in the partnership through dedicated staff, open communication, and formal governance structures.
5. Embrace monitoring and evaluation to jointly measure impact and inform decision-making.
Following these strategies can help corporations close gaps with donors and facilitate more sustainable development partnerships.
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2. 2 J. Bus. Manag. Corp. Aff.
Table 01. Definitions of strategic alliances [29-32]
Douma, 1997 [23] A strategic alliance is a contractual, temporary relationship
between companies remaining independent, aimed at reducing
the uncertainty around the realization of the partners’ strategic
objectives (for which the partners are mutually dependent) by
means of coordinating or jointly executing one or several of the
companies’ activities. Each of the partners is able to exert
considerable influence upon the management or policy of the
alliance. The partners are financially involved, although by
definition not through participation, and share the costs, profits
and risks of the strategic alliance.
Dussauge & Garrette, 1995
[22]
An alliance is a cooperative agreement or association between
two or more independent enterprises, which will manage one
specific project, with a determined duration, for which they will be
together in order to improve their competences. It is constituted
to allow its partners to pool resources and coordinate efforts in
order to achieve results that neither could obtain by acting alone.
The key parameters surrounding alliances are opportunism,
necessity and speed.
Faulkner, 1995 [24] A strategic alliance is a particular mode of inter-organizational
relationship in which the partners make substantial investments
in developing a long-term collaborative effort and common
orientation.
Gulati, 1998 [25] Strategic alliances are voluntary arrangements between firms
involving exchange, sharing, or co-development of products,
technologies, or services.
Phan, 2000 [29] Alliances are long-term, trust-based relationships that entail
highly relationship-specific investments in ventures that cannot
be fully specified in advance of their execution.
Porter, 1990 [26] Strategic alliances are long-term agreements between firms that
go beyond normal market transactions but fall short of merger.
Forms include joint ventures, licenses, long-term supply
agreements, and other kinds of inter-firm relationships.
Yoshino & Rangan, 1995 [29] A strategic alliance is a partnership between two or more firms
that unite to pursue a set of agreed upon goals but remain
independent subsequent to the formation of the alliance to
contribute and to share benefits on a continuing basis in one or
more key strategic areas, e.g. technology, products
most well intended alliance to experience problems.
Businesses striving to enhance its competitive
advantages by building a successful strategic alliance
and changed competitive environment could be missing a
major element by not focusing on understanding the key
operational determinants of successful alliance and the
best way to achieve excellent strategic relationship in the
light of a new modified competitive environment. This
study is guided by the rationale of exploring these
determinants.
Aims and Objectives of the Study
The aim of the study is to identify the key factors that
determine the success of a firm competing as part of an
alliance constellation and the ways in which the
performance of these firms may be improved by facing
and utilizing new challenges provided by the dynamics of
competition.
As influenced by the aim of the study, the primary
objective of this study is to examine and analyze how
3. 3
alliance reshape the dynamic of competition and to
examine what determinants affect the success of a firm
competing as part of an alliance constellation. In this
context the main objectives of the research study could
be stated as:
1. To gain an overview of Strategic Alliance, its formation
and management.
2. To better understand when alliances make sense and
when another organizational form is more appropriate.
3. To develop a solid approach for assessing the alliance
capabilities of partner(s) and own firm.
To get a deeper understanding of how competitive
advantage of the alliance can be achieved.
An Overview of Strategic Alliance
Strategic alliances are agreements between companies
(partners) to reach objectives of common interest.
Strategic alliances are among the various options which
companies can use to achieve their goals; they are based
on cooperation between companies [2]. Strategic
alliances are agreements between companies that
remain independent and are often in competition. In
practice, they would be all relationships between
companies, with the exception of (a) transactions
(acquisitions, sales, loans) based on short-term contracts
(while a transaction from a multi-year agreement between
a supplier and a buyer could be an alliance); (b)
agreements related to activities that are not important, or
not strategic for the partners, for example a multi-year
agreement for a service provider (outsourcing) [3].
Strategic alliance can be described as a process wherein
participants willingly modify their basic business practices
with a purpose to reduce duplication and waste while
facilitating improved performance [4].
Wheelen [5] defined strategic alliance as "an
agreement between firms to do business together in
ways that go beyond normal company-to-company
dealings, but fall short of merger or a full partnership”.
Others define these more restrictively; for example,
Professor Benjamin Gomes-Casseres of Brandeis
University [6] views them as open-ended, incomplete
agreements with shared control that create value by
combining the capabilities of separate firms. An
"incomplete" agreement means that the full terms or
conditions of the alliance are not fully established at its
conception because if they were, the need for a strategic
alliance would not exist [7].
A strategic alliance has to contribute to the successful
implementation of the strategic plan; therefore, the
alliance must be strategic in nature. The relationship has
to be supported by executive leadership and formed by
lower management at the highest, macro level. While the
following does not represent a comprehensive definition
for a strategic alliance, at this stage, one might define a
strategic alliance as a relationship between organizations
Mowla 3
for the purposes of achieving successful implementation
of a strategic plan.
In simple words, a strategic alliance is sometimes just
referred to as “partnership” that offers businesses a
chance to join forces for a mutually beneficial opportunity
and sustained competitive advantage [8]. A literature
review of the definitions of strategic alliances is given in
table 01.
Strategic Alliances Vs Traditional Relationship
To understand the power of an alliance, a comprehensive
comparison has been shown making it clear how it differs
from traditional relationships. Seven differences might
stand out:
Cost
Alliances understand the sources of cost and then
eliminate them. Traditional relationships push costs onto
others. This is the outcome of classical win-lose
negotiating the zero-sum game.
Value
Alliances focus on the ultimate customer, and partners
add value that customers pay for. Traditional
relationships view value as a cost, where there is a
perceived trade-off. Low-cost bids usually win, resulting
in process and product problems.
Productivity
Alliances understand failures, bottlenecks and variability.
They optimize systems to achieve flow at the customers
demand. By partnering with a critical few suppliers,
alliances reduce variability of the source of flow
problems. Traditional relationships increase variability by
introducing more suppliers into the mix.
Information
Alliances practice open communications and encourage
transparency throughout the supply chain. They
understand that knowledge shared is more powerful than
knowledge protected. Traditional relationships use
information as a weapon in win-lose negotiations.
Resources
Alliance partners invest resources to design and operate
the partnership. They engage people, since human
resources make the process work. They provide
resources to improvement initiatives jointly including
people, time and money to ensure the alliance meets its
potential. Traditional relationships view people, time and
money as resources to protect on their own side and
extract from the other.
4. 4 J. Bus. Manag. Corp. Aff.
Relations
Alliance partners structure the relationship with operating
principles that survive the people assignments.
Traditional relationships are personality-dependent
systems that reflect the agendas of the people in the
system.
Risks and Rewards
Alliance partners share risks and rewards. The
traditionalist assigns the risks and keeps the rewards.
Motives Underlying Entry of Firms into Alliances
1. Market entry and market position-related motives;
(a) to gain access to new international markets, (b) to
circumvent barriers to entering international markets
posed by legal regulatory and/or political factors, (c) to
defend market position in present markets, and (d) to
enhance market position in present markets.
2. Product-related motives;
(a) to fill gaps in present product line and (b) to broaden
present product line.
3. Product-market-related motives;
(a) to enter new product-market domains and (b) to enter
or maintain the option to enter evolving industries whose
product offerings may emerge as either substitutes for or
complements to the firm’s product offerings.
4. Market structure modification-related motives;
(a) to reduce potential threat of future competition. (b) To
raise entry barriers/erect entry barriers and (c) to alter the
technological base of competition.
5. Market entry timing-related motives; to accelerate pace
of entry into new product-market domains by accelerating
pace of RandD, product development and/or market
entry.
6. Resource Utilization Efficiency-related motives;
(a) to lower manufacturing costs and (b) to lower
marketing
5. 5
costs.
7. Resource extension and risk reduction-related motives;
(a) to pool resources in light of large outlays required and
(b) to lower risk in the face of large resource outlays
required, technological uncertainties, market
uncertainties and/or other uncertainties.
8. Skills enhancement-related motives; (a) to team new
skills from alliance partners and (b) to enhance present
skills by working with alliance partners (figure 02).
Underlying Philosophies and Relevant Theories
The two basic philosophies which underlie the theories of
firm behavior are that companies either adapt to their
environment or that companies attempt to influence their
environment [9]. In reality, companies develop and
implement strategies constantly and rarely follow either of
these two approaches alone. For explanatory purposes,
the two philosophies can be seen as anchor points on a
continuum on which various theories of firm behavior can
be examined.
Several theories of firm behavior can be used as a
basis for explaining strategic alliance formation:
transaction cost theory, resource dependency theory,
organizational theory, relationship marketing, and
strategic behavior theory. These theories of rational
behavior can be positioned with respect to the underlying
philosophies as shown in Figure 03. Non rational theories
such as mimetic behavior or convenience are not
included in this framework. Transaction cost theory [10]
suggests that companies form alliances in order to
minimize their costs and/or risks. Forming a strategic
alliance
represents an internalization process for a firm, thereby
removing it from the price vagrancies of the market place,
accompanying negotiation and risk. Thus, forming an
alliance represents one way a firm adapts to an uncertain
world.
Resource dependency theory states that firms have
specific resources but that few companies are self
sufficient in these resources [11], and therefore must
depend on others for important resources. A deficiency in
one or more strategic resource (i.e., core competencies)
is seen as the driving force for collaboration and a means
of reducing uncertainty and managing this dependency.
Transaction cost economics and resource dependency
theories can be summarized into a broader theory of
structure and governance which implies that companies
adapt or react to their environment [12].
Organizational learning differentiates between tacit and
specific knowledge. Whereas specific knowledge can be
transferred through licensing, tacit knowledge is that
knowledge embedded in an individual and which can only
be transferred by learning alongside the individual [13]. It
cannot be bought or licensed [14]. This theory sits at the
midpoint of the two underlying philosophies: companies
could be seen to view knowledge as a means of retaining
or acquiring competencies, in a similar approach to
Mowla 5
resource dependency theory and therefore adapting to
their environment. Alternatively, companies could be
seen as acquiring knowledge in order to compete at
different points in the value chain, thereby changing the
industry structure in which they operate.
Relationship marketing can be traced back to the
notion of domesticated markets, which refers to the
tendency of firms in industrial markets to form strong
relationships with their customers and suppliers [15]. The
focus of relationship marketing is that firms act in order to
provide superior customer value. Within this new
approach to marketing, marketing alliances are seen as
the least risky and most effective means of providing
services/products that will enhance the relationship with
the customer base [16].
Strategic behavior theory addresses the issue of a
firm’s behavior from a managerial, rather than a
marketing approach. Companies are expected to form
cooperative agreements if they believe that these
arrangements will better enable them to meet their
strategic objectives with the focus being on maximizing
profits [13]. Both relationship marketing and strategic
behavior theory propose that firms form strategic
alliances as a means of acting proactively and in so
doing, altering their environment
Types of Strategic Alliances
Strategic alliances take many forms, including contractual
arrangements (such as license agreements, marketing
agreements, and development agreements), minority
equity investments and joint ventures that are operated
as separate legal entities (such as corporations, limited
liability companies, or partnerships). Regardless of the
form, strategic alliances share common features such as:
(i) defined scope and strategic objectives; (ii)
interdependent contractual arrangements within the
defined scope and to achieve the strategic goals; (iii)
specifically defined responsibilities and commitments for
each party; (iv) independence of the parties outside of the
defined scope of the alliance; and (v) a fixed time period
in which to achieve the strategic goals.
The simplest form of strategic alliance is a contractual
arrangement. Contractual-based strategic alliances
generally are short-term arrangements that are
appropriate when a formal management structure is not
required. While the specific provisions of the contract will
depend upon the business arrangement, the contract
should address: (i) the duties and responsibilities of each
party; (ii) confidentiality and non-competition; (iii)
payment terms; (iv) scientific or technical milestones; (v)
ownership of intellectual property; (vi) remedies for
breach; and (vii) termination. Examples of contractual
strategic alliances are license agreements, marketing,
promotion, and distribution agreements, development
agreements, and service agreements. The most complex
form of strategic alliance is a joint venture. A joint venture
involves creating a separate legal entity (generally a
6. 6 J. Bus. Manag. Corp. Aff.
corporation, limited liability company, or partnership)
through which the business of the alliance is conducted.
A joint venture may be appropriate if: (i) the parties intend
a long-term alliance; (ii) the alliance will require a
significant commitment of resources by each party; (iii)
the alliance will require significant interaction between the
parties; (iv) the alliance will require a separate
management structure; or (v) if the business of the
alliance may be subject to unique regulatory issues. In
addition, a joint venture will be appropriate if the parties
expect that the alliance ultimately may be able to function
as a separate business that could be sold or taken public.
Historically, information technology and life sciences
companies have sought minority equity investments from
strategic commercial partners. This form of strategic
alliance has gained increased popularity in the current
economic climate. In many cases, the equity investment
will also be accompanied by a contractual arrangement
between the parties such as a license agreement or a
distribution agreement. From the company’s perspective,
an equity investment from a strategic commercial partner
may be structured on more favorable terms than those
obtained from venture capitalists and it may increase the
company’s valuation and enhance the company’s ability
to secure future rounds of funding. Venture capitalists
and underwriters generally view these types of strategic
alliances as validating an early stage company’s
technology and business model. In some cases, they
Figure 01. Definition of “Alliance
Arm’s Length
Contract
Merger or
Acquisition
1. creates values by combining capabilities
2. of separate firms
3. which share control
4. in an open-ended (incomplete) agreement.
Definition of “Alliance”
Source: Gomes-Casseres 1996
[9] www.alliancestrategy.com
Figure. 04 Types of Strategic Alliances
Figure 05. The type of alliance chosen for a particular venture needs to suit the circumstances
Source: www.compasspartnership.co.uk
Greater integration
Greater autonomy
Strategic
partnership
Informal
collaboration
Joint
venture
Shared
Box-office
Merger
Federal
structure
Group
structure
7. 7
have even become a condition to an underwriter taking a
life science company public. The strategic commercial
partner may desire this form of alliance to gain a
competitive advantage through access to new
technologies and to share in the upside of the other
party’s business through equity ownership. Strategic
alliances can be considered on a spectrum ranging from
informal collaboration (which hardly merits the term
strategic alliance) to group structures and finally merger.
Alliances at the left hand end of the spectrum allow
organizations to maintain a great deal of autonomy.
Moving across the different types (to the right) requires
greater commitment and leads to greater integration.
In a study by Coopers and Lybrand, they identified the
following alliances, and found their clients were engaged
in them as follows; (Figure 04 and 05).
The Arc of Alliance Strategy
For generating competitive advantage it is important to
focus not only on ‘doing the deal’ but also on ‘an overall
alliance strategy’ that is tied to overall business strategy.
Superior performance comes from managing this whole
array of issues. To help keep track of these issues, the
Arc of Alliance Strategy has been designed as shown in
Figure 1. The four elements of the alliance strategy arc
rest on a foundation that is the general strategy and
organization of the firm. This arc represents an integrated
view of what it takes to succeed with alliances.
Although mastery of these individual elements of
alliance strategy is essential, it is the overall workings of
the arc that drive success. Within the arc, the strongest
links are between alliance design and management. The
success of one clearly depends on the other. The design
must set the stage for management, and management
must strive to bring to fruition the goals set at design.
These two elements apply to every alliance of the firm,
and carry roughly equal weight in the success of any
given alliance.
Crafting Alliance Strategy
It should now be clear that an alliance strategy is so
much more than a strategic alliance, in that it creates the
very context for successful partnerships. According to
Gomes-Casseres [7], success of any given alliance
typically depends on 10 key factors:
1. Have a clear strategic purpose - alliances are never
end in themselves, they are always used as tools in
service of a business strategy
2. Find a fitting partner - a partner with compatible goals
and complementary capabilities
3. Specialize - allocate tasks and responsibilities in the
alliances in a way that enables each party to do what
they do best
4. Create incentives for cooperation - working together
never happens automatically, particularly when partners
Mowla 7
were formerly rivals.
5. Minimize conflicts between partners - the scope of the
alliance and of partners' roles should avoid pitting one
against the other in the market.
6. Share information – continual communication develops
trust and keeps joint projects on target
7. Exchange personnel - regardless of the form of the
alliance, personal contact and site visits are essential for
maintaining communication and trust
8. Operate with long time-horizons - mutual forbearance
in solving short-run conflicts is enhanced by the
expectation of long-term gains
9. Develop multiple joint projects - successful cooperation
on one project can help partners weather the storm in
less successful joint projects
10. Be flexible - alliances are open-ended and dynamic
relationships that need to evolve in pace with their
environment and in pursuit of new opportunities.
To craft a successful alliance strategy, one needs to
establish an internal culture that views alliances as simply
another business option, not as a panacea; they have
risks and rewards, and they will work for some things but
not for others. Effective management of alliances also
relies on the ability to cope with change. Do for alliances
what would it can be done for any other aspect of
business - recognize change and demands flexibility. If
the market changes, will the production schedule not
change? The same thinking should be applied for
alliances. It is unlikely that a company will get everything
it wants out of an alliance, but it can also obtain much
that it did not expect. The secret is to grab opportunities
for change, not ignore them.
With such elements in place, the number of deals in
which your company is engaged can be expected to grow
and will need to be managed. This means prioritizing
alliances and creating an organizational hierarchy
responsible for optimizing the portfolio. This will call for
making trade-offs among partners or even among the
goals of different business units. Remember that ad hoc
growth of your alliance portfolio is costly to your alliance
strategy. As your alliances grow in numbers, the
importance of a supportive internal infrastructure will also
become evident. Suddenly, tending to alliances will begin
to place substantial demands on scarce resources. When
the organization is taxed, it will either resist change or
find new ways to accommodate and support the alliance
strategy. Only the latter route offers a hope of success.
The companies of today and tomorrow will not survive if
they try to do everything themselves, nor will they be
saved by a strategic alliance here or there. But having a
real alliance strategy will at the very least give them a
strong fighting chance.
Competitive Advantages in Alliance Constellations
In today's environment, creating sustainable value for
customers and shareholders requires creating effective
8. 8 J. Bus. Manag. Corp. Aff.
Table 02. Some factors shaping group-based advantages
Resources assembled: how valuable in the domain?
Total scale of operations
Technological capabilities
Market reach
Presence in key value chain segments
Organizational structure: how effective are the resources combined?
Unifying vision
Limited internal rivalry
Leadership at the core—one or a few firms
Limited membership, or norms and rules for similar members
alliances. Alliances are essential building blocks for
companies to achieve stronger and more effective market
presence. Alliances are now a fact of life for business, an
important piece of current operations as well as future
strategy.
There are many ways to build a competitive advantage
which depend a lot on management of the alliance. Some
firms place alliance management under a centralized
organization, while others prefer to distribute
responsibility for alliances across all business units.
Furthermore, the competitive advantage of a strategic
alliance also depends on its organizational and strategic
circumstances.
The Nature of Group-Based Advantage
The group-based advantage of a constellation
differentiates it from rival constellations and determines
the share of the industry profits that it can earn.
Analogous to the traditional model based on firms, group-
based advantage stems from the relative value of the
resources controlled by the constellation.
Let us focus on the two elements in this statement: first,
the nature of the resources in each constellation; and
second, how the constellation controls these resources.
Since constellations are groups of allied firms, the
resources in the constellation are the sum of the
resources contributed to the group by member firms.
These resources are not controlled as tightly as they
would be inside a firm, because of the incomplete
contracts (and possibly partial ownership) in the alliances
that tie the member firms together. Just like in a single
alliance, therefore, the potential of a constellation to
create joint value is realized only by how well the
constellation is structured and managed. Research and
anecdotal evidence suggests that group-based
advantage is affected by the factors shown in (Table 02).
The table shows an illustrative set of resources
(‘Resources assembled’), the value of which clearly
depends on the nature of the competitive domain. This
listing is not exhaustive; but the point is that a
constellation can potentially gain group advantage only to
the extent that it assembles those resources that are
critical for success in its domain. Even when it does,
however, it is not assured of success, because the
resources need to be deployed and integrated effectively.
The second set of table represents four factors of
‘Organizational structure’. They are consistent with
theory. A unifying vision is important to bring together
disparate partners. A corollary of this is that competition
among members erodes the cohesion of the
constellation. Leadership is important in making collective
decisions and in disciplining constellation members that
stray from the collective goals; constellations that are
weak at the center tend to be pulled in multiple directions
by their members. Group size is a self-evident factor: the
larger the group, the harder it is to manage, all else being
equal. Those constellations that have grown large and
successfully managed their size by issuing norms and
rules that make management of the group more of a
routine. Again, this list is not exhaustive, but the point
should be clear: a constellation only gains advantage
from member resources if it is able to combine and
govern them effectively. This first cut at a theory of group-
based advantage raises many research questions.
Firstly, what is the relative importance of assembled
resources and organizational structure? As a
constellation grows, it often faces a trade-off between the
added resources from new members and the added
management burden.
Secondly, when compared with a single firm, is the
organizational structure of the constellation in itself an
advantage or disadvantage? In many domains, the tight
control that a firm can exercise over its resources is an
advantage; but in others, the looser arrangements in a
constellation may offer gains from flexibility.
Thirdly, how is group-based advantage affected when
members participate in more than one constellation?
When membership is not exclusive, constellation
boundaries overlap and resources from one can benefit a
competing unit.
Fourthly, what organizational approaches are helpful in
managing a constellation’s resources? No doubt the
management of these loosely controlled resources is
9. Mowla 9
Table 03. Some factors shaping a firm’s claim on value created by its constellation
Value-Added Perspective: What is the bargaining power of the firm within the group?
The firm controls scarce, valued, and well-protected assets
Competition among the firm’s suppliers of complements
Lack of competition between the firm and its partners
Structural Perspective: What is the position of the firm within the network of allies?
Centrality of the firm’s position
The firm occupies structural holes
The firm participates in multiple constellations
subject to special techniques, perhaps analogous to
techniques that have proven useful in managing
resources inside a firm.
Forces Shaping a Firm’s Claim on Group Advantage
Although constellations are created to generate group-
based advantages, they must yield value at the level of
the firm in order to attract and retain members.
The game of competition may have changed, but we still
keep score the old way. What determines the value that a
firm can actually appropriate from participation in a
constellation?
Two strands of work on alliances and networks are
relevant to this question.
Authors taking a structural approach have argued that the
position of the firm in a network shapes its power over
partners.
Others have emphasized that the scarce resources
added by each firm shapes its ability to extract profit from
partners. These different approaches are related to the
debate in social network analysis between the roles of
structural position and identity.
As with many such debates, it is likely that both
perspectives are important. The two sets of factors are
often interdependent. A firm with unique and highly value-
added can often bargain for a central position in a
constellation. A synthesis of these approaches might lead
to factors such as in Table: 03.
These factors in Table: 03 suggest some questions for
future research. Firstly, what are the relative roles of the
value-added and structural explanations? Firms in
standards battles often find themselves at the center of a
network of licensees, but may have to yield bargaining
power to get there. Secondly, how does bargaining
among members of a constellation affect the overall
governance of the organization?
The group advantages discussed above may well be
influenced by the internal dynamics discussed here.
Thirdly, how are entries and exits from a constellation
affected by the distribution of benefits within the group?
Presumably, firms weigh their private costs and benefits
in these moves, but they may also be influenced by their
benefits relative to other members.
CONCLUSION
A balance between a cooperative and a competitive
interaction among the same firms, so that neither one of
the two ways of conduct will harm the other is a strategic
challenge or dilemma for many firms. This research
proposes a way to think about the interaction between
alliances and competition. It begins by reviewing what the
literature in industrial organization has to say about this
question. The competition increasingly takes the form of
groups of allied firms against other groups instead of the
traditional battle of firm versus firm. This kind of
competition is different from that assumed in standard
models of industrial organization and strategy.
Understanding this new kind of competition dictates to
broaden unit of analysis and to consider explicitly the
various ways in which competition and cooperation
interact.
The strategic dilemma of cooperation and competition
is a very intriguing question for managers. The context
specific factors will have a great impact on the decision
as well as the manager’s perceptions of benefits and
drawback. The present strategic focus on core
competence and outsourcing indicates a need for
cooperation. In addition, many markets are stagnating
and immature which might indicate a need for
cooperation. But we do not actually know if more
research is needed concerning these questions. And also
the basic questions are; who is your competitor and what
would your cooperative partner need to be enlightened?
Another strategic dilemma that needs to be discussed
is the managerial problems occurring on the individual
level caused by different types of role conflicts. These
conflicts are caused by the firms having various roles
towards each other i.e. as buyer, supplier, competitor and
cooperative partner.
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