Strategic Alliances and Firm Performance in the South Moravian Region During the Financial Crisis: The Analysis of the Results of Pilot Research

Abstract

Purpose of the article: The objective of the article is to determine the impact of the financial crisis on South Moravian firms’ performance and find evidences of inter-firm alliances between firms. Methodology/methods: The article is based on primary research conducted among SMEs in the South Moravian Region and secondary data acquired from firm database Amadeus and expertise literature. The methods are applied within the framework of pilot research. Scientific aim: The scientific aim of the article is to investigate the effect of financial and economic crisis on firm performance and explore the relevance of alliance formation during the period of 2007–2012. Findings: Current results show that in spite of the sharp decrease in firm revenue during the crisis, the creation of value added on contrary, after stagnation in the most difficult period, rose slightly. Despite the crisis, 71% of firms claim that they are following growth strategy and the half of these firms is engaged in cooperation in a form of strategic alliance. Conclusions: Strategic alliances are present in the South Moravian manufacturing firms’ practise and – according to findings of earlier research papers – their impact on firm performance is of great importance. This research is a first step toward systematic investigation of firm performance in relation to inter-firm alliances in the South Moravian Region. In order to assess the impact of strategic alliances on firm performance, more comprehensive further research is needed. The findings conclude that alliance formation is a strategy for sustaining firm performance in extraordinary economic conditions.