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Answer :
Final answer:
The collaboration between Amex and Costco is an example of a strategic alliance, as both companies shared their resources to achieve a common goal.
Explanation:
The collaboration between Amex and Costco can be classified as a Strategic Alliance. This is because both companies decided to work together for mutual benefit by pooling their resources. They did not merge or acquire one another which vehemently rules out options such as innovation through acquisition and collaborative invention. The main aim was to leverage each other's strengths and address their weaknesses which resonates with the concept of a strategic alliance.
A strategic alliance is a type of cooperative strategy where two or more entities agree to share resources in order to achieve a common goal. In the case of Amex and Costco, they came up with the exclusive co-branded credit card to offer unique benefits to cardholders.
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The collaboration between American Express (Amex) and Costco to create an exclusive, co-branded credit card is best described as a) strategic alliance.
Here's why the collaboration between Amex and Costco fits the definition of a strategic alliance:
1. Mutual Benefits: Both companies aimed to achieve mutual benefits from the relationship. Amex wanted to expand its credit card user base, while Costco sought to provide a unique credit offering to its customers.
2. Shared Resources: The two companies likely shared resources, including customer data and marketing efforts, to maximize the success of the co-branded credit card.
3. Specific Project: The creation and promotion of the co-branded credit card was a specific project with clear goals for both Amex and Costco.
4. Independence: Despite their collaboration, both companies remained independent entities throughout the project.
The strategic alliance between Amex and Costco failed, contributing to Amex's poor performance. The reasons for the failure could include a variety of factors such as inadequate customer response, operational issues, or strategic misalignment between the two corporations.
