Conclusions, Implications, Limitations and Future Research

This book has analysed the effect of firm-specific alliance capabilities on strategic alliance performance. We have used the term ‘strategic’ to refer to alliances that are particularly geared towards realizing an improved product market combination for any of the firms involved (Duysters and Hagedoorn, 2000) as well as to shared goals and objectives or mutual benefits (Spekman et al., 1999). In this book, strategic alliances (also referred to as ‘alliances’) have been defined as temporary cooperative agreements in which two or more firms share reciprocal inputs to realize improved competitive positions for the partners involved, while maintaining their own corporate identities (Contractor and Lorange, 1988; Parkhe, 1993; Vanhaverbeke et al., 2002).1 Typically, in line with Contractor and Lorange (1998), a definition of alliances excludes both spot market arrangements and mergers and acquisitions, which are entirely integrative agreements. However, for agreements to be called ‘strategic’, they need to pertain to agreements such as strategic sourcing transactions, co-sourcing agreements, strategic R&D partnerships or be equity-based (see e.g. Yoshino and Rangan, 1995; Rule, 1999).