Global Strategic Partnership

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Due to increasing completion within the local and international markets, businesses are compelled to devise ways which can enhance competitiveness. One of these competitive avenues entails Global Strategic Partnership, which according to Caira (2012) is a deliberate approach of pulling resources by two or more firms operating in different nations to form a joint venture. The international strategic partnership differs from tradition market entry in many ways. First, global market entry is faced by many stringent regulations due to geopolitical differences in the statute governing business operations. Running of businesses varies from one country to another, and this aspect plays an important part when two individual or companies from such countries come together to start a joint venture. Therefore, international strategic partnerships are faced by more international business challenges trying to comply with regulation compared to traditional market entry approaches.

Secondly, according to Renard (2010), a global...