Strategic Business Alliance and Conflict Management Process Research Paper

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Business Finance

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1.)

Using an Internet search engine, search for “strategic alliance” and identify three recently formed alliances. For each alliance, identify whether the companies’ other products are generally competitors or complementary. What are the goals of each alliance? What brought them together? Discuss how you think a strategic alliance is or is not an effective way for these organizations to meet their goals.

2.) Write a 1.5 to 2-page reflection about your conflict management skills. Please take the online self-test “Conflict Styles: What Are You Like?” at, Use the reference link below for the content

http://jeffcoweb.jeffco.k12.co.us/high/wotc/confli...

Note:

Please write 600 words answer to 1st question

For 2ND Question, Please write 1.5-2 page reflection content (Answer content should be 1.5-2 pages)

Avoid plagiarism and grammatical errors

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Explanation & Answer

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1

Strategic Alliance

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Strategic Alliance
A strategic business alliance is a merge of two or more companies performing a similar
project while each of them remains independent (Drewniak & Karaszewski, 2020). The
agreement is usually less binding. The main aim of forming a strategic alliance is to diversify its
market, enter into new markets, improve its product line, and develop an edge over competitors
in the market (Meadows, Angwin, Gomes, & Child, 2020). The alliance allows these companies
to mutually work together towards achieving the main goal that is beneficial to the merged
companies. The strategy enables companies, either competitors or complementing products, to
carry out a similar project. The agreement may be short term or long term. It may also be formal
or informal.
One of the recently formed partnerships is an alliance between Kirkland lake gold and
Newmont Canada FN holding. The two companies both work in the mining industry; thus, their
products complement each other. These companies agreed to combine forces to identify new
regions to explore and maximize their profits. They also reached an agreement to, in the future,
form an alliance to advance similar and mutual projects that help to create value and market for
the companies. According to Kirkland Lake Gold (2020), the two companies reached an
agreement and a commitment to work together to explore more areas, thus creating value for
both companies.
Another recent strategic alliance is one between Oakwood, the country garden
commercial and culture tourism group. The coalition aims to help Oakwood launch properties in
China. These companies’ products and resources complement each other. The companies
reached an agreement to help Oakwood open a hundred Be...


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