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Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series

Strategic partnerships in business: critical success factors

Boncho Mitev

Abstract

Nowadays, companies apply strategic partnerships as a preferred tool in their organizational strategies for growth. At the core of cooperation lies the mutual benefit. Various motives drive firms towards reactive or proactive behavior in formation of strategic partnerships. The formation process includes three stages - preparation, implementation and assessment of the aliance. Despite the increasing number of strategic alliances worldwide, a significant part of strategic partnerships in business practice are unsuccessful. The aim of the article is to analyze and evaluate the critical success factors of strategic partnerships in business through the prism of the motives and the process of their formation. The research methods used in the paper are literary review and comparative analysis.


Keywords

strategic partnership, strategic alliance, motives for strategic partnership, critical success factors

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