Index IntroductionFormulation: what to doMarket development through a strategic allianceImplementation: how to do itAnalysis: why do itReferences:IntroductionSiemens Gamesa was born from the merger between the German multinational Siemens and the Spanish company of Gamesa wind energy on July 17, 2016. This strategic partnership agreement benefiting both companies has created a leading player in the wind energy industry. The strong market hold that these two companies possess is geographically diversified, so the merger has created a well-balanced footprint across the globe. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay Siemens' global presence and network make implementing a solid business strategy essential to the company's survival and growth. As a market leader in several industries, Siemens must not only maintain its current position, but must expand and grow from a position of strength. They use a variety of tools to grow and achieve their goal, such as Roadmapping and a process known as “Images for the Future.” This two-perspective process primarily serves two functions: developing and mapping today's technology and creating a future scenario in which all factors that would affect the project are evaluated together. Through this process he would be able to identify the necessary adjustments that need to be made for a project to be successful in the future. Through these various processes Siemens develops strategies to enter new market segments. Siemens Energy is known for using a global standardization strategy to take advantage of economies of scale and location as it is under high pressure to reduce costs. Research along with the BCG matrix has shown that the offshore wind sector is a cash cow that have a constant flow of liquidity. The strategy formulated to develop market segments through a strategic alliance was born when the dots were connected between the opportunities that would arise in the future. A key success factor for Siemens has been its ability to form strategic alliances that have made it a market leader. The very definition of strategic alliance can be applied to the proposed strategy where an alliance is created to share knowledge in a new market where risks and uncertainties are high and access to a critical resource which in this case are the oil platforms of the Korean National Oil Company. it can only be obtained through this alliance. All in all, gain a competitive advantage to strengthen the current market leading position and learn new capabilities. Formulation: what to do Market development through a strategic alliance Siemens, being the market leader in the offshore wind energy market, serves as a stable platform not only for developing a new market segment but for creating a unique symbiotic relationship. Having a successful history with a strategic alliance like the one seen with Gamesa, the company gains a significant advantage through these agreements. This relationship would be with offshore oil platforms that would eventually run dry, using their existing infrastructure to create a more sustainable energy producer. As an upcoming new development, this project would require testing before being implemented on a large scale. After 4I-Idea Invention Innovation Imitation, in order to reach the imitation stage to manage the large-scale project, this alliance would provide the knowledge and know-how. Seeing how strategic allianceshave helped Siemens in the past, its strength lies in these alliances to achieve reduced costs to exploit opportunities such as association with oil rigs. In 2004, two businessmen from southern Louisiana decided to build a wind farm on an abandoned oil platform in the Gulf of Mexico. This example with today's technology would help the company further penetrate the offshore market segment while reducing investment costs. THE strategy itself depends on advancement through technological advancements as a hybrid between the two energy sectors would help overcome the drawbacks of competing in an existing onshore market, revealed through a cause-and-effect analysis. Implementation: How to do it The strategic alliance with Equinor would not be difficult to implement since they previously have a contract with Siemens as their supplier in a project in South Korea. This contract would be extended for a period of 10 years, which in its time would help the development of the geographic market. Having landed the project with Korea National Oil Corp., Equinor would need a supplier like Siemens to develop floating wind power with Korea National Oil Corp., a bid it won the previous year. This strategic alliance would be brought forward through a non-equity alliance agreement that would facilitate the sharing of knowledge and profits while protecting the parties from unmitigated risks in an experimental project. It would be seen as a 50-50 partnership between the two companies to gain a competitive advantage in the Korean market. While offshore wind farms are believed to have many advantages, such as stronger wind currents than onshore wind farms, the complexity of the marine environment still remains. Basic functions such as transportation, installation and operation of equipment are complicated and incur high costs. The proposed project will attempt to reduce costs as the investment overheads are reduced due to the infrastructure available on the oil rigs, thus differentiation is created. The trade-off between cost leadership and differentiation would be a successful integration strategy as the product offered here would be unique in itself while the advantage of being mounted on an oil rig would reduce costs. Please note: this is just a sample. Get a custom paper from our expert writers now. Get a Custom Essay Analysis: Why So South Korea's renewable energy goal is seen as a rather ambitious project that risks not achieving its intended goal. Through PESTLE analysis we were able to determine these countries' motivation to ratify the Paris Agreement on climate change. Knowing this piece of knowledge was crucial to formulating the strategy to move on the choice of geographic market segment as South Korea to achieve their goal would increase their subsidies making the creation of an offshore floating wind turbine a smooth process. Mounting a wind turbine on an offshore oil platform not only helps us reduce costs to become a cost leader, but makes this strategy a sustainable model for the future to move into more distant geographic markets with abandoned or dry oil platforms such as the central ones. east. This could be achieved in the future through mergers and acquisitions with oil and gas companies. Oil rigs drying up would not be a surprise, but since the exact date is still elusive, it would be in the company's best interest to phase out oil and gas organically, but use the current..