Optimizing innovation through collaboration

: key success factors in strategic alliances of multinational corporation

Abstract

In the dynamic landscape of multinational corporations, the effective management of strategic alliances is important to unlock the full innovation potential. However, the reality reveals that over half of all strategic alliances fail. While existing literature has examined various factors contributing to successful alliance management in general, none of the literature discusses the particular type of strategic alliance. This study contributes to the literature by narrowing down the focus on strategic alliances between multinational corporations for innovation. Given the complexity of these alliances and the highly specialized nature of the subject, it can be beneficial to further discover this topic. To address this gap, this study conducted 19 in-depth, qualitative interviews with representatives from different multinational corporations actively engaged in strategic alliances for innovation. The research identifies key success factors for managing these special alliances, surpassing existing findings, and uncovering additional practices. These include the time intensive process of building trust, the significance of fostering awareness of the alliance's benefits within corporations, active engagement of all stakeholders, and understanding each partner's strengths and contributions to the collaboration. A notable novelty lies in the assessment of collaboration, demonstrating the importance of a holistic measurement approach and practical implementation. Furthermore, the study presents a framework for the successful management and maintenance of strategic alliances among multinational corporations for innovation.

Date of Award	26 Jan 2024
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Filipa Andrêa Godinho de Lancastre Serpa Pinto (Supervisor)