Walking Down the Corporate Aisle: The Survival of Strategic Alliances

Abstract

The question regarding the establishment of viable strategic alliances still remains very much unanswered. Usually, strategic alliances pass through different stages that eventually give rise to bilateral or multilateral relationships. In particular, strategic alliances need some commonality to survive and thrive. The success of an alliance is largely based on the mutual trust, constant communication and ability to work as a team. Communication, transparency, trusts, joining power and resources, and structural developments are the key determinants of successful alliances. Global strategic alliances equally recognise the similarities and differences explaining the survival typologies. The ability to create and adhere to alliance processes through commitment and mutual trust is paramount. Therefore, this article reviews literature on global strategic alliances and identifies the key success factors of the process by examining representative studies of different strategic alliances. The theoretical arguments used in previous literature are also presented and eight critical success factors are highlighted explaining the nature of success in alliance process.