Right partner for the right venture: Successful collaboration with new and old partners in new and existing markets

In this article, I contribute to building this understanding by offering a conceptual framework to systematically think about collaboration with old and new partners in existing and new markets. The framework addresses the key risks and benefits of different partnership types, and suggests ways in which firms can minimize the former and take full advantage of the latter. The cases from the automobile industry illustrate this framework and provide insight into specific steps and actions that partners can take in order to overcome the challenges of each type of alliance and make it a success. Together, the conceptual framework and illustrative cases provide guidance to the differentiated management of alliances with partners in existing and new markets. This enables firms to make better use of different types of partnerships.