Managing strategic alliances in dynamic environments: A financial services perspective

Abstract

Strategic alliances are increasingly becoming a key part of how organisations choose to compete, adapt and evolve in a highly dynamic and unpredictable world. Increased competition and unexpected disruptions have resulted in the explosion of the number of strategic alliances which have been created over the past decade, and the numbers continue to rise. However, the concept of strategic alliances is not new and has been researched and applied in professional and academic spheres for many decades. Despite this longstanding interest, most strategic alliances fail to meet their intended outcomes. The theoretical relevance of the study was to explore a contemporary understanding of strategic alliances in today’s dynamic environment by building on extant literature. The postformation stage is recognised as the longest and most important stage for achieving the objectives of any strategic alliance. Constructs related to strategic alliances and their management were also explored. The study followed an exploratory and qualitative design, where the theoretical constructs were explored. The research conducted 15 interviews with managers and executives from the financial services industry who are involved in strategic alliances. A conceptual framework was developed at the end of the study, capturing the research outcomes. The study claims contributions through potential additions and refinements to the existing body of literature.