Strategic Alliances; A Comparative Analysis of Successful Alliances in Large and Medium Scale Enterprises around the World

In the fast growing competition of constantly developing markets and changing consumer preferences, some manufacturing companies are more successful than others to achieve its goals profitably. As competition is becoming more severe and alternatives are being introduced rapidly, firms struggle for the right of market share and to gain competitive advantage over their rivals to brighten their future and one way to do that is forming a strategic alliance by developing a relation between two or more independent firms that agree to share resources to achieve some common objectives. Forming an alliance can save costs and give access to new markets, which otherwise is not possible for many firms. Therefore, several key factors for strategic alliance formation and its success are important to consider. If a company overlooks the critical process of intensive analysis, designing, managing and evaluation any strategic move while practicing alliance, it can bear unrecoverable loss. Along with the high rise in alliances there is also high failure rate in alliances. This research paper attempts to review the implementation of strategic alliances in the large and medium firms of the world, its importance, the requirements needed to be fulfilled to make a successful strategic alliance and some examples of real world strategic alliances.