Best partnerships of 2023
- .straxQ Academy
- Jan 1, 2024
- 1 min read
Updated: Jul 16, 2024
Uncover the strategic prowess of 2023's partnerships, from Bosch and IBM's quantum quest to Boeing and Northrop Grumman's cosmic cooperation. Witness the diversity of collaboration in this curated exploration.
In today's dynamic and interconnected business environment, organisations are opting for strategic partnerships beyond traditional acquisitions. Let's explore eight unique collaborations driving innovation and business growth. This collection of 2023's top partnerships is not about size but substance – showcasing diverse approaches to international strategic alliances, each revealing a unique school of thought in execution.
Waymo x Uber
TLDR
Noteworthy combination of complementary assets (i.e. Waymo's technological prowess in autonomous mobility with Uber's extensive ride-sharing and delivery networks), aims to reshape the transportation industry in a multi-year strategic partnership. (1)
Objectives
Waymo - Scaling technology // developing for markets // exploiting Uber’s ride-sharing and delivery networks
Uber - Exploration activities for Uber’s future // potential for increased efficiency and cost reduction
Mercedes Benz x Worlds
TLDR
MB has established a long-lasting presence in the seemingly distant world of the LoL community. By aligning with Riot Games, the automaker not only gains exposure in the esport community but also taps into the passion, precision, and high-end aesthetics synonymous with both the LoL scene and the Mercedes brand. (2)
Objectives
MB - Branding // creating an emotional connection // entering a niche community // accessing distant markets (i.e. LPL, LCK)
RIOT - Financing not only global events (advertising part of business model) // Automotive service for esports activities // Reputational gains (serious, for adults)
Tiffany & Co. x Nike
TLDR
It's a reflection of how industry leaders leverage networks and partnerships to amplify their uniqueness and the ability to provide added value even for the most demanding customers.
Moreover, Tiffany & Co. was acquired by LVMH in 2021. Which further highlights the importance of collaboration and partnerships in certain industries and also demonstrates the strategies of the best performers. (3)
Objectives
Fantastic branding & marketing collab, which enabled companies to distinguish themselves in an ever evolving industry and reach each other's consumer communities (i.e. High end margins & Mass market demand).
Bosch x IBM
TLDR
Quantum computing partnership aims to discover alternatives to rare earths and battery metals, bridging the gap between traditional industries and cutting-edge technology. Showcasing the potential for significant reductions in development time and cost. (4)
Objectives
Bosch - Access to quantum technology and Qiskit Runtime for materials simulation // higher energy efficiency and reduced consumption of natural resources.
IBM - Explore industry-specific implementations // drive advancements in materials science // access to Bosch’ ability to mass-produce high technology
JIP INC. x Toshiba
TLDR
Japan Industrial Partners' acquisition of Toshiba (78.65% of shares worth almost $14 billion) may lack the glamour of a fashion or esports collaboration, but it represents a move with broader implications in Japan's business landscape. (the largest M&A deal in Japan this year) (5)
Objectives
JIP INC. - integrate Toshiba into a domestic conglomerate network to further growth the group’s influence and execute on the JIP’s strategy
Toshiba - Prevent bankruptcy // resolve foreign investor issues
Balmain x Barbie
TLDR
By riding a wave of excitement surrounding the movie release, Balmain not only reinforces its branding and marketing prowess but also taps into the cultural significance of iconic collaborations.
Balmain's series of short-term collaborations (Beyonce, Pokemon, Rossignol, Evian etc. in recent years), proves the effectiveness and importance of limited-edition partnerships (short- term/project type) (6)
Objectives
Fantastic branding & marketing collab which enabled both parties to build hype around the big movie release in 2023 and create unique products
Boeing x Northrop Grumman
TLDR
In the aerospace domain, Boeing and Northrop Grumman's "Deep Space Transport" joint venture stands as a symbol of coopetition. It's a testament to the idea that, in the pursuit of ambitious goals, collaboration often outshines competition. Beyond securing contracts and reducing costs, the collaboration represents a strategic move by NASA to foster knowledge sharing and technology diffusion. (7)
Objectives
JV - R&D i.e. collaborative development of products & services for Space Launch System, which is a core part of NASA's Artemis mission. In 2023, they were awarded the “DST” status, which enables them to closely collaborate with NASA on three essential parts and guarantees them a very solid contracts for the foreseeable future.
NASA - cost reduction by 50% // long term strategy in the pursuit of ambitious goals enabled only by knowledge sharing and technology diffusion.
Microsoft x Nintendo
TLDR
The $69 billion acquisition of Activision Blizzard was finally approved by regulators in 2023, triggering yet another attempt to conquer the gaming industry. Strategic partnerships have the power to reshape industries, emphasizing the importance of alliances against dominant players.
Microsoft has agreed with Nintendo on an exclusive contract for some AAA titles, further solidifying their positive relationship and long-term partnership. (Email leaks confirmed that Nintendo and Valve were alternative targets for acquisition.) (8)
Objectives
Forming an alliance against a common enemy (Sony's PlayStation) // expanding the user base through cross-platform gaming which can enable further network effects
What type of partnership approach aligns with your organization's objectives in today's dynamic business landscape ??
Which of the showcased partnerships is your favourite, and have you come across another noteworthy collaboration that deserves an honourable mention ??
What lessons can be drawn from these case studies, and how can organizations apply them to their strategic alliance initiatives ??
Key Takeaways
These are not just business transactions; they are manifestations of foresight, adaptability, and a pursuit of the extraordinary by the best performers and market leaders. The lessons learned from these case studies underscore the need for tailored strategies and a nuanced understanding of risks and limitations. In a high-end world, the value that is just not accessible in isolation makes strategic partnerships indispensable. Learn more about international strategic alliances and discover our .straxQ Academy
References
https://www.mercedes-benz.com/en/art-and-culture/zeitgeist/esports/
https://www.linkedin.com/pulse/strategic-partnerships-2023-accelerating-growth-driving-kiosow
https://jvalchemist.ankura.com/trends/joint-ventures-and-partnerships-the-year-in-review-and-ahead/
https://esportsinsider.com/2023/12/biggest-esports-partnerships-2023
https://impact.com/partnerships/2023-partnership-predictions-from-experts/
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