Strategy & Leadership

Superstition undermines alliances

October 9, 2013 | 1 min read

Many studies conclude that the more alliances a company forms, the better it becomes at them. That makes intuitive sense – but it’s not always true.

A study of nearly 200 firms by Koen Heimeriks, which collectively had formed more than 3,400 alliances, found that on average the results of firms with the most experience were worse than those of firms with only moderate experience, as gauged by the percentage of alliances that achieved their goals. Why is this?

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Harvard Business Review: Superstition undermines alliances, Koen Heimeriks (2009) 

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