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Creating Value Through Strategic Alliances

In: Strategic Management Accounting

Author

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  • Wing Sun Li

    (Beijing Normal University–Hong Kong Baptist University)

Abstract

s Strategic alliance is a form of strategic growth. Strategic partners form alliances and anticipate gains through synergy creation in the strategic alliance. Though there are many success cases, there are equally plentiful of failure cases. Therefore, it is very important to find true strategic partners who are willing to contribute synergy value through wholehearted partnership. This chapter explores new ways to find a true partnership. Initially, it discusses key determinants which influence synergy value creation through strategic alliance, i.e., relation-specific assets, interfirm knowledge sharing, complementary resource endowments, and effective governance mechanism. Subsequently, it introduces the concept of expected payoff structure (private and common benefit ratios) as a means to identify partnership stability, i.e., competitive or cooperative partnership. In fact, private and common benefit ratio can be used as an index to predict stability of partnership. For partnership selection, it is important to have strategic fit for both partners. A new concept of strategic symmetry is introduced to explore how far prospective partnership in terms of strategic, organizational, and operational level is aligned (i.e., high and low strategic symmetry). To combine the stability of partnership (i.e., competitive and cooperative) and strategic symmetry (high and low symmetry) concepts in a 2 × 2 matrix, the chapter also evaluates the likely risk impact (both relational and business performance risk) on the ultimate value of strategic partnership. Risk mitigation measures are discussed to rectify the partnership problems. Cases are discussed throughout the chapter to facilitate application of new concepts and calculations.

Suggested Citation

  • Wing Sun Li, 2018. "Creating Value Through Strategic Alliances," Management for Professionals, in: Strategic Management Accounting, chapter 11, pages 193-216, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-10-5729-8_11
    DOI: 10.1007/978-981-10-5729-8_11
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    Cited by:

    1. Agrawal, Sandeep & Gretzinger, Cody & Lowerre, Andrew, 2022. "Trends, motivations, and land use outcomes of municipal annexation: A case of Alberta, Canada," Land Use Policy, Elsevier, vol. 112(C).
    2. Eghbal Akhlaghi, Vahid & Campbell, Ann Melissa & de Matta, Renato E., 2021. "Fuel distribution planning for disasters: Models and case study for Puerto Rico," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 152(C).

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