Abstract
Partner selection has been identified as a crucial stage in the formation of alliances and critical questions have been raised on the factors that influence different firms during the partner selection process and why a firm will choose one firm and not the other. A multidisciplinary theoretical perspective has been adopted in this paper in an effort to provide insights on how partner selection in alliances can be influence not only by contextual factors but also by top management teams. An integrative perspective is proposed and a conceptual framework suggested showing the link between strategic alliances, contextual factors and top management teams. In conceptualizing these constructs, it is proposed that macro-environmental factors and top management teams mediate the relationship between strategic choice and partner selection.
Highlights
In the current business context, a heightened awareness of the strategic networks in which firms are situated has become a central, rather than a peripheral theme to understanding firm strategy and performance [9]
The theoretical paper is anchored in the concept of strategic alliances and a critical review of the process of partner selection was undertaken with a special focus on Small Medium Enterprises (SMEs)
Extant literature reviewed has identified the alliance formation process as constituting of specific stages and the partner selection stage has been recognized as a key determinant to the overall performance of the alliance and achievement of competitive advantage as well
Summary
In the current business context, a heightened awareness of the strategic networks in which firms are situated has become a central, rather than a peripheral theme to understanding firm strategy and performance [9]. One of the emerging concepts in the study of strategic networks is the motives for entering into alliances and partner selection during the process of forming alliances. Extant literature and research has indicated that macro-environmental factors of political, economic and social context [12] and the characteristics of the firm, such as size, organizational type, industry and organizational culture can influence this partner selection process. The Small Medium Enterprise (SME) sector is a critical sector in emerging markets and constitutes a major construct for this paper To achieve this objective, a review of relevant theories and empirical studies is undertaken to advance the phenomenon of strategic alliances and partner selection. Relevant constructs are identified in the subject of strategic alliances and partner selection and a theoretical framework is proposed highlighting the relationship between the identified constructs
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