Riassunto analitico
The convergence of national markets into a single, global market has led to a steady increase in the use of international alliances to enter foreign markets. This form of internationalization has proven to be especially useful for small-and medium-sized firms who often lack the necessary resources and capabilities to undertake an expansion project on their own. The pursuit of international alliances, however, becomes particularly challenging when emerging markets are involved, characterized by significant differences as to their economic, political, and cultural environment. Governance mechanisms are those instruments aimed at reducing the uncertainty connected with either the partner or the foreign environment, that is relational and environmental uncertainty, respectively. However, to successfully manage an international alliance with a partner in an emerging economy, governance mechanisms must be adapted to take into account the different legal frameworks, cultural values, and business practices.
The present thesis aims to address two research questions: first, the influence of increased cultural distance on uncertainty, both relational and environmental, perceveied by the partner in the Western country. The second research question aims to understand the most effective mechanisms for managing international alliances with a partner in an emerging economy, such as China. The research will be carried out by analyzing the international alliance that Clinique La Prairie, a Swiss company operating in the medical and spa industry, has undertaken with a Chinese partner, to develop its first Health Resort ever outside of Switzerland. The paper will analyze the formation process of such alliance and understand how trust and control mechanisms were used to effectively govern the alliance.
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