Strategic alliances are an effective way for a business to build a secondary market or to test a collaborative partnership with another company. Finding the right ally requires finding a company that shares a common vision and mission, or that otherwise buys into your company's core values. Look at how large corporations have successfully developed strategic alliances to brainstorm how to develop your own.
Hewlett-Packard and Disney
This strategic alliance has been around longer than most people would imagine – going all the way back to when Mr. Hewlett, Mr. Packard and Mr. Disney were still involved in the main decisions of their respective companies, dating back to Fantasia's creation. Disney understood that technology was imperative to the future development of Disney's innovation. The Imagineering Team at Disney still uses HP platforms in ride creation, animation breakthroughs and improved customer experiences.
It's difficult to think that two powerhouse companies from two entirely different industries could have such synergy. This opens up ideas for local artists and IT companies to look for ways to build relationships and innovate together in unique ways. For example, a tech company can team up with a local puppeteer to create a massive holiday show using technology to sync music and lights to the movements of the puppets.
Apple Pay and MasterCard
It would seem that Apple Pay and MasterCard are competing with each other. Apple collaborated with the second largest credit card provider in the world, MasterCard, to gain credibility in the merchant services and processing arena. While Apple Pay gets the benefit of MasterCard's reputation, MasterCard gets the cache of being the first to be an Apple Pay authorized option. The experience of MasterCard helps Apple as it works out potential bugs and issues as Apple Pay becomes more prevalent.
Those in similar areas do have the opportunity to benefit from each other. Think about a mortgage lender and a real estate agent. These are often considered to be power partnerships. However, there is usually some disparity as one may have more power partners than another, therefore the relationship is not exclusive. After testing partnerships, a real estate company might decide to bring a mortgage brokerage in as a subsidiary building a bigger company with all-inclusive resources.
Spotify and Uber
Leaping forward to a very recent piece of news, Spotify and Uber have partnered to provide stereo control to Uber customers. Not every Spotify consumer uses Uber, nor does every Uber rider have a Spotify account. The strategic alliance allows each company to pursue prospects from the other’s existing customer base, all while continuing to promote both products.
In both cases, it gives the company a leg up over its competition. Spotify is offering something with the Premium package that other streaming services do not yet have. And likewise, Uber can provide the riders with an opportunity to listen to their own playlists as opposed to other ride-share services that cannot match them yet.
Information provided by Kimberlee Leonard - https://smallbusiness.chron.com/examples-successful-strategic-alliances-13859.html