Entrepreneurial firms in search of established partners: review and recommendations

Abstract

PurposeTo review the alliance partner selection criteria research in order to shed light on how entrepreneurial firms should choose established firms as alliance partners.Design/methodology/approachCritical differences between entrepreneurial and established firms are presented to emphasize the special risks in alliances between these two types of firms. Extant literature on partner selection criteria is reviewed to show that adequate research adopting the perspective of entrepreneurial firms is lacking. A list of recommendations is developed for entrepreneurial firms in their choice of established firms as alliance partners. Illustrative cases are presented of both successful and unsuccessful cases of strategic alliances between entrepreneurial and established firms.FindingsProvides evidence that entrepreneurial firms have not been adequately recognized in the research on partner selection criteria in strategic alliances. Based on a comprehensive review of the literature, the paper identifies 15 intrinsic and alliancing difference factors between entrepreneurial and established firms.Practical implicationsFive key guidelines are developed to assist entrepreneurial firms in selecting established firms as alliance partners.Originality/valueThis paper fills a gap in the two literatures on entrepreneurship and strategic alliances regarding research‐based guidance available for entrepreneurial firms in the selection of established firms as partners in strategic alliances.