As part of a strategic partnership, two companies are interweeding their efforts in a particular area, such as marketing, supply chain, integration, technology, finance or a combination of these. That is also why the various strategic partnerships we mentioned in this article exist between some of the biggest names in the industry. Cooperation in a strategic partnership has worked for major players such as Nokia and Microsoft, and with careful planning, it can also work for your business. It`s about taking the leap and saying, “I`m doing” a strategic partnership agreement. Strategic cooperation agreements allow all participants, whether they are two individual entrepreneurs or a group of sovereign nations, to retain their own employees and your independence, while at the very least, while setting out joint projects without the need for legal fusion. These agreements are formal documents that define the respective responsibilities and objectives over a specified period of time. Some of them are structured to be permanent to take advantage of the changing situation while submitting additional negotiating conditions. Strategic cooperation does not need to be equal and small players who have something to put on the table are also appreciated. Some types of strategic alliances include:[2][10][11][11] The “dark side” of strategic alliances has received increasing attention in various management areas such as corporate ethics,[19] Marketing[20] and supply chain management. [21] The term “dark side” has been widely used to refer to the risks and negative dimensions of strategic alliances, ranging from harmful outcomes to unintentional or unethical practices.
[22] In the 1990s, geographic boundaries between markets collapsed and new markets entered. Higher requirements for businesses lead to continuous innovation for competitive advantages. Strategic alliances focus on developing capabilities and skills. For companies, there are many reasons to form a strategic alliance: let`s now look at each of the 5 types of strategic partnership agreements. A strategic alliance (see also the strategic partnership) is an agreement between two or more parties to pursue a number of agreed objectives that are needed, while remaining independent organizations.
