In the highly competitive global arena, companies that do not forge strategic international partnerships will be left behind. Today, the old joint venture has given way to a new, more entrepreneurial globalization process. Drawing from the examples of successful alliances like Ford/Mazda, Toshiba/Motorola, and Whirlpool/Philips, the authors offer a road map for managing these entrepreneurial relationships and argue that the greatest challenge for top executives lies not in initiating such partnerships, but in continuously developing organizational process innovations to manage a global network of dynamic alliances.
