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Alliances, Acquisitions

and Joint Ventures


Alliance 01
• An arrangement between two companies that have Alliance vs
decided to share resources to undertake a specific, Acquisition
mutually beneficial project.
• Each company maintains its autonomy while gaining a new
opportunity
• Helps a company develop a more effective process,
expand into a new market or develop an advantage over a
competitor, among other possibilities
Acquisition 01
• A corporate in action in which a company buys most, if not Alliance vs
all, of the target company’s ownership stakes in order to Acquisition
assume control of the target firm
• Not to be confused with merging
Acquisition and Alliance 01
• Important elements of any modern corporate strategy (Almassy and Alliance vs
Baatz, 1992; Cave, 1996; Hamel et al., 1989)
Acquisition
• Both have an equal chance of success, which is about 50% (Bleeke and
Ernst, 1991)
• Generally alliances are more successful if they are used to enter markets
in new geographical areas, or to develop products that are not core to
either party’s business strategy ( Bleeke and Ernst, 1995).
• Acquisition should be in geographical areas where the company already
has a string presence or where the product is core to its operation.
Alliance-Acquisition Matrix 01
Alliance vs
Acquisition
Reasons for Alliances 01
• To share in the cost of new research Alliance vs
• To obtain political credibility in gaining a foreign license
Acquisition
When a large firm allies with a much smaller company:
• Tap into the smaller partner’s innovative and entrepreneurial skills
• To gain access to world markets, volume manufacturing and much greater
resources
Reasons for Alliances 01
Alliance vs
Acquisition
Strong Alliances 02
• Alliances formed between two partners of equal strength Strong
• Greatest chance of success.

• Alliances are formed for the wrong reasons:


Alliances
 Weak companies will choose a stronger partner in the hope that
this will help it to get out of its problems
 Stronger companies will accept the weaker partner, since it
believes it can then dominate the partnership and get its own way
Joint Ventures
03
• Is the ultimate form of alliance
• A separate company is set up to which each partner contributes a given amount
Joint Ventures
of finance, personnel and skills
• Must have full autonomy
• Separate entity; has its own operational responsibility
• Employees of the parent companies may feel threatened; Management must be
aware of this and ensure that the threat of job losses is minimized
Strategy Formulation
Tools and Techniques
Advantages 04
• Ensures that a systematic thought process is followed, and all the pros Strategy
and cons are considered logically and a disciplined and rigorous
Formulation
approach is applied towards the problem
• Ensures that the emphasis is placed on facts rather than on hunches Tools and
• Ensures a more detailed analysis of the problem - yield to better Techniques
decision making
• Provides fall-back strategies
Value Analysis 04
• Driving forces in the business are itemized and analyzed. Activities Strategy
which add value need to be itemized and clearly identified.
Formulation
Ex. Manufacturing
Marketing sales Tools and
Research and Development Techniques
Customer satisfaction
• Customer satisfaction in high on the list on value analysis
considerations
Market Analysis 04
Strategy
Analysis of market-related factors which affect the supply and demand for
products or services provided by the organization.
Formulation
• Competitor Analysis Tools and
• Company strengths and competitive advantage
Techniques
• Benchmarking
• Sensitivity Analysis
• Technological and market forecasting
• Product life cycle
Gap Analysis 04
Gap analysis is the technique for the identifying the difference between the Strategy
aims of the corporation and the expected results if no action is taken( Ansolf,
Formulation
1972).
Tools and
Gap analysis deals with : Techniques
 Corporate aims

 Expected results

 Size of the gap

Method of filling the gap


Financial Analysis 04
• This is a well-established technique - several tools exist to enable the Strategy
company’s financial position to be determined and understood
Formulation
( Day, 1986) .
Tools and
• Tools are also available for cost and control mechanisms and to plan Techniques
operating budgets ( Varadarajan, 1894).
Group Decision Making 04
• Decision making by groups is often more effective than by individuals Strategy
( Delbeeq et al., 1975; Johnston Mendleson, 1982 ).
Formulation

• Different point of views are developed, debated, analyze, refined. Tools and
• A conclusion or decision that is accepted by the group. Techniques

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