The co-evolution of strategic alliances in the ICT industry: the case of HP

The relevance and incidence of strategic alliances in business practice significantly increased since the past decade thus renewing the interest of management scholars on the topic. In a globalised economy, where technological innovation and industry dynamics are becoming faster and faster, strategic alliances of a firm are expected to change in number and nature (exploration vs. exploitation) not only in relation to the strategic intent or the firm but also as an outcome of the co-evolution of the environment in which it operates. The paper investigates, through an in depth case shady or Hp, the evolution of strategic alliances at the ICT industry during the period 1998-2007 and relates it, in a co-evolutionary perspective, to the major industry dynamics (product/market modularity and digital convergence). The paper provides an example of and supports the application of the co- evolutionary perspective in the fast moving ICT industry. Finally, it identifies and initially discusses an evolutionary virtuous cycle for strategic alliances.