Фактори за избор на стратегия на неорганичен растеж на фирмата: международните стратегически съюзи и партньорства като алтернатива на сделките по сливания и придобивания
Factors in Selecting the Corporate Strategy of Inorganic Growth: the International Strategic Alliances as an Alternative to Mergers and Acquisitions (M&A)

Author(s): Svetoslav Mladenov
Subject(s): Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Firm Strategy; External Growth; Mergers; Acquisitions; M&A; Strategic Alliances; Strategic Partnerships
Summary/Abstract: This paper studies the factors that the corporate management should take into consideration when choosing one of the two strategies of inorganic growth – strategic alliances or mergers and acquisitions (M&A). The aim of the paper is to demonstrate that this decision should be made after a thorough analysis of the costs and the potential rewards of each of the two strategies from the perspective of a set of internal and external factors (related to the environment, the industry, the nature of the transaction and the internal resources of the company). To achieve this goal a comparative analysis is made of three complementary methodological frameworks that can be applied to reduce the risks from the implementation of external growth strategies in the current scenario of internationalisation and globalisation of business activities.

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