Strategic Alliances and Firm Performance: A Systematic Literature Review

Abstract

Strategic alliances have become integral to firms seeking competitive advantage in today's dynamic business environment. This systematic literature review aims to synthesize and analyze existing research on the relationship between strategic alliances and firm performance. Through a comprehensive examination of academic articles published in reputable journals, this review provides insights into the various dimensions of strategic alliances and their impact on firm performance. Key themes emerging from the literature include the motives driving firms to form alliances, the types and structures of alliances, the role of trust and cooperation in alliance formation and management, and the performance outcomes associated with different alliance strategies. Furthermore, this review identifies gaps in the current literature and suggests avenues for future research, such as the influence of industry characteristics, the effects of cultural differences on alliance success, and the role of alliance capability development. By synthesizing diverse perspectives and empirical findings, this review contributes to a deeper understanding of the complex relationship between strategic alliances and firm performance, offering valuable insights for both scholars and practitioners engaged in strategic management and alliance formation.