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Strategic Partnerships in Business: Critical Success Factors

Author

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  • Boncho Mitev

    (University of Economics - Varna)

Abstract

Nowadays, companies apply strategic partnerships as a preferred tool in their organizational strategies for growth. At the core of cooperation lies the mutual benefit. Various motives drive firms towards reactive or proactive behavior in formation of strategic partnerships. The formation process includes three stages - preparation, implementation and assessment of the aliance. Despite the increasing number of strategic alliances worldwide, a significant part of strategic partnerships in business practice are unsuccessful. The aim of the article is to analyze and evaluate the critical success factors of strategic partnerships in business through the prism of the motives and the process of their formation. The research methods used in the paper are literary review and comparative analysis.

Suggested Citation

  • Boncho Mitev, 2018. "Strategic Partnerships in Business: Critical Success Factors," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 7(3), pages 203-211, December.
    • Handle: RePEc:vra:journl:v:7:y:2018:i:3:p:203-211
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    More about this item

    Keywords

    strategic partnership; strategic alliance; motives for strategic partnership; critical success factors;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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