Answer to Question #278373 in Management for Harbi

Question

Strategic Alliances and Networking helps to enhance the Business Competitiveness of a Firm. Please discuss how and why it happens.

Answer 1

Strategic alliances is an arrangement between businesses to meet a mutually beneficial target while networking is sharing of ideas between businesses or companies. These two concepts usually place a business in a position that it can be able to compete with other businesses. In the case of strategic alliances, a business is able to meet its target with the help of support from another business. For example if the target is to increase sales, the business, with the help from another business is able to beat competitors easily thus reaching higher goals. In the case of networking, a business is able to get marketing information that enables it to outsmart its competitors.