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A strategic alliance is a partnership between competitors, customers, or suppliers which combined objective to share in the overall success by providing a product or a service.  With some similarities to joint Ventures, strategic alliance though not so tightly connected, also shares resources through a somewhat sharing of ownership.

Some of the advantages to strategic alliances include a faster market entry and start-up, access to new products technology and markets, as well as cost-savings by sharing costs resources and risks. Without risk strategic alliances are difficult to manage because of differences in perceived strategies, operation practices, and different organizational cultures.

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Relationship to class text Book:

The topics discussed in this paper are described in this course textbook, International Business. Staring with rules and regulations which is covered in chapter 10 titled “Legal Forces” (Ball, 2004, pg. 278).  Following by cultural elements which is covered in chapter 6 titled “Sociocultural Forces” (Ball, pg 158). Then lastly, international business ownership which consists of wholly owned, joint ventures, and partnerships, all of which are covered under chapter 16 titled “Entry Modes” (Ball, pg 424).

Conclusion

The act of participating in an International business is not an easy task. Nevertheless, it is a growing trend which many are willing to endure. With countries like China that have a large population, massive volume  of support to the product influx as well as providing a resource of cheap labor, companies will continue to take advantage of this highly attractive option in achieving growth and success in today’s international businesses arena.

To be successful in this endeavor a company needs to have an awareness of the different influential characteristics ingrained in their foreign country of choice. The country’s culture, laws, and methods of entry mode or all vary unique characteristics or elements which need to be mastered to allow a company to maneuver it self into an ingrained position within that country.

Works Cited:

Ball, McCulloch, Geringer, Minor, McNett. (2004). International business. (11th ed)

New York: McGraw-Hill, 2008, p.10.

The Economic & Commercial Counsellor’s Office of the Embassy of the People’s Republic of    China in the Kingdom of Saudi Arabia. (2004, December 29). Bo xilai expressed his    expectation for enterprises from ROK to expand range of investment to china.             Retrieved April 18, 2008 from

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