Business alliance is made between two or more firms which tap business opportuni
ID: 373985 • Letter: B
Question
Business alliance is made between two or more firms which tap business opportunities available in the industry or market for taking advantages of their joint capabilities, reduction of cost, delivery of best customer services, to serve an unknown market etc. Many times, these alliances take competitive advantage by reducing the completion in the industry or by selling the products with low cost manufacturing.
When new technologies will emerge then it is very important to business organization to disruption of this new technology and it will require a huge investment. This investment cannot be achieved easily by a single firm that’s why to fill the investment needs many companies jointly create new alliances. Even these companies can jointly set best practices for the industry with these emerging technologies. Strategic alliance can be successful in every corner of the world with the help of technologies . Sustainable growth & development can be acheieved by these joint partners.
Explanation / Answer
Discuss the reasons why alliances are very important towards building competitive advantage in emerging technologies.
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