![]() Manuscript received December 1998, revised April 1999, revised September 1999. Wulf Schaper-Rinkel, Director of Finance, Controlling and Corporate Development, Berentzen AG, Hoffmann, Senior Lecturer for Strategic Management and Management Control, Man-Īgement Department, Vienna University of Economics and Business Administration, Director of theĪustrian Controller Institute, Vienna, Austria. Acquisitions are better in situations with less need for strategicįlexibility, and when the transaction aims to utilize sustaining economies of Knowledge dispersion because collaborations increase strategic flexibility and ■ Alliances are more favorable in the face of high environmental uncertainty and The strategic objectives of the focal firm. ![]() The data show that neither strategy is superior,Īnd each specific context determines whether acquisition or alliance best meets Ture and on interviews with senior executives and consultants who regularly Such a framework, drawing on an extensive study and synthesis of the litera. ■ Although there is considerable literature dealing with alliances (joint ventures)Īnd acquisitions, surprisingly little of it helps to develop a basis for decidingīetween acquisitions and alliances as strategies for external growth. ![]() Hoffmann/Wulf Schaper-Rinkel Acquire or Ally? - A Strategy Framework for Deciding Between Acquisition and Cooperation 131-159 _^ ^ #_^ Itili0 _^ ^ MonogoitiQiit International Review © Gabler Verlag 2001 Werner H. For more information about JSTOR, please contact Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at about.jstor/terms Springer is collaborating with JSTOR to digitize, preserve and extend access to MIR: Management International Review We use information technology and tools to increase productivity and facilitate new forms of scholarship. JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. 131- Published by: Springer Stable URL: jstor/stable/ REFERENCES Linked references are available on JSTOR for this article: jstor/stable/40658186?seq=1&cid=pdf- reference#references_tab_contents You may need to log in to JSTOR to access the linked references. Hoffmann and Wulf Schaper-Rinkel Source: MIR: Management International Review, 2001, 2nd Quarter, Vol. Acquire or Ally? -A Strategy Framework for Deciding Between Acquisition and Cooperation Author(s): Werner H.
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