Strategic alliances – viable alternative to create a competitive advantage in a global market

In the past years, in the light of the economic turbulences all around the world, one of the most important ways to assure a competitive advantage is creating a strategic alliance. Such collaborative ventures between firms were developed as a response to the changes which have been happening to the world economy as increased competition, higher costs of developing new products, accelerated technological changes and, maybe the most important – the recent world economic crises. Being part of a strategic alliance creates competitive advantage for the companies by establishing their presence worldwide, by building up operating experience in overseas markets and gaining access to those national markets that were inaccessible before. At the same time, a strategic alliance means management commitment, special skills and forward planning for each company which takes part to an alliance.