Question

Cexplain the four (Al key factors for "success of cross-border alliances provide examples in your ur response

Answer 1

1. Create trust: Building trust and faith in cross-border alliances is the main factor of success. when each party is rewarded equally for what they have put in, builds trust. For example, including cooperation, transparency, adaptability, celebrating success, equal mindset, and focus on growing together.

2. Value creation: There is a need to collaborate to compete in the global marketplace. Pooling resources and collaborating is the second most important factor for the success of a cross-border alliance. when two collaborating firms combine customer base to build capabilities together, they explore opportunities opened in globalization. For example, producing good quality products.

3. Learning: When alliances collaborate with each other in order to create value, they tend to learn and experience a new culture and customer needs. learning and gaining knowledge is the key ingredient for the success of the cross-border alliance. For example, cultural learning and cultural value creation.

4. Staffing: It is important for recruiting the right person at the right job at the right time for getting more benefits. capabilities can be enhanced by learning and guiding constantly. For example, providing incentives and providing for
their career aspirations.