STRATEGIC ALLIANCES AS A SYNERGY TOOL FOR INTERNATIONAL BUSINESS

Abstract

The article investigates the role of strategic alliances in developing international business. This study aims to analyze the essence, forms, types, advantages, and disadvantages of strategic alliances, as well as to identify key success factors and potential risks associated with their formation. The research methodology includes a comprehensive literature review and a case study analysis of successful strategic alliances between leading international companies in various industries. The study results demonstrate that strategic alliances have become a powerful tool for achieving synergy and enhancing the competitiveness of companies in international markets. The article highlights the importance of careful planning, partner selection, clear goal setting, and continuous monitoring for the effective implementation of strategic alliances. The study also examines current trends in the development of strategic alliances in the context of globalization and digital transformation of business. The practical value of the study lies in providing insights and recommendations for companies considering the formation of strategic alliances to expand their global presence and achieve sustainable growth in the face of increasing competition and technological challenges. The article concludes by emphasizing the growing significance of strategic alliances as a key instrument for synergy and competitiveness in the international business environment and outlines potential directions for future research in this field. The study delves into the various motivations behind the formation of strategic alliances, such as access to new markets, sharing of risks and costs, acquisition of complementary resources and capabilities, and enhancement of innovation potential. The article also discusses the critical role of trust, communication, and cultural compatibility in the success of strategic alliances, highlighting the need for effective governance mechanisms and conflict-resolution strategies. The article also addresses the challenges and limitations of strategic alliances, such as the potential for opportunistic behaviour, loss of autonomy, and difficulties in integration and coordination, and suggests ways to mitigate these risks through proper due diligence, contractual safeguards, and ongoing relationship management.