Table of contentsIntroductionFormulation: What to doMarket development through strategic allianceImplementation: How to doAnalysis: Why soReferences:IntroductionSiemens Gamesa came into being through to a merger between the German multinational Siemens and the Spanish wind energy company Gamesa on July 17, 2016. This strategic partnership agreement which benefited both companies created a major player in wind energy. The strong market hold that these two companies have is geographically diversified and hence 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 should not be banned”? Get the original essay Siemens' global presence and network make it essential to have a strong business strategy in place for the survival and growth of the company. As a market leader in multiple industries, Siemens must not only maintain its current position, but also expand and grow from a position of strength. They use a range of tools to develop and achieve their goal, such as the roadmap and a process known as 'Images for the Future'. This two-perspective process primarily serves two functions: developing and mapping current technology and creating a scenario for the future in which all factors that could influence 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 different processes, Siemens develops strategies to penetrate new market segments. Siemens Energy is known for using a global standardization strategy to take advantage of economies of scale and location, as they find themselves in a situation of high pressure to reduce costs. Research and the BCG matrix have shown that the offshore wind sector is a cash cow. who have a constant influx of cash. The strategy formulated to develop market segments through strategic alliances arose when the dots were connected between the opportunities that would arise in the future with a key success factor for Siemens, namely its ability to form strategic alliances that have made it a market leader. The very definition of a strategic alliance can be applied to the proposed strategy in which an alliance is created to share knowledge in a new market where risks and uncertainties are high and access to a critical asset which in this case , is the oil platforms of the Korean National Oil Company. can only be obtained through this alliance. Overall, gain competitive advantage to strengthen the current market leadership position and learn the new capabilities.Formulation: What to doMarket development through strategic allianceSiemens being a leader in the offshore wind energy market, it constitutes a stable platform not only to develop a new market segment but to create a unique symbiotic relationship. Having a successful history with strategic alliances like with Gamesa, the company gains a significant advantage through these agreements. This relationship would be with offshore oil rigs that would eventually dry up, using their existing infrastructure to create a more sustainable energy producer. As this project is a new upcoming development, it would need to be tested before being implemented on a large scale. Following the 4I-Idea Invention Innovation Imitation in order to reach the stage of imitation to lead thelarge-scale project, this alliance would provide the knowledge and know-how. Considering how strategic alliances have helped Siemens in the past, its strength lies in these alliances to reduce costs and take advantage of opportunities such as teaming up with oil rigs. In 2004, two south Louisiana businessmen decided to install a wind farm on an abandoned oil rig in the Gulf of Mexico. This example, with current technology, would help the company further penetrate the offshore market segment while reducing the investment cost. The strategy itself relies on technological advancement, as a hybrid between the two energy sectors would help overcome the disadvantages of competing in an existing land-based market, revealed by cause-and-effect analysis. Implementation: how to do it? The strategic alliance with Equinor would not be difficult to implement as they already have a contract with Siemens to be their supplier in a project in South Korea. This contract would be extended for a period of 10 years, which would contribute to the geographic development of the market. After securing the project with Korea National Oil Corp., Equinor would need a supplier such as Siemens for its floating wind power development with Korea National Oil Corp., a tender they won last year previous. -an equity alliance that would facilitate the sharing of knowledge and benefits while protecting the parties from absolute risks in an experimental project. This would be a 50-50 partnership between the two companies aimed at gaining a competitive advantage in the Korean market. Although offshore wind farms have many advantages, such as stronger wind currents than those on land, the complexity of the marine environment remains. Basic functions such as transportation, installation and operation of equipment are complicated and expensive. The proposed project would attempt to reduce costs as investment overheads are reduced due to the infrastructure available on the oil rigs, thereby creating differentiation. The trade-off between cost leadership and differentiation would enable 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. Keep in mind: This is just a sample.Get a personalized article from our expert writers now.Get a Custom EssayAnalysis: Why SoSouth Korea's renewable energy target is considered a rather ambitious project which risks not achieving its determined objective. Using PESTLE analysis, we were able to determine the motivation of these countries to ratify the Paris Agreement on climate change. Knowing this knowledge was essential for the formulation of the strategy to evolve on the choice of geographic market segment, because South Korea, to achieve its goal, would increase its subsidies, which would facilitate the process of establishing a floating offshore wind turbine. Mounting a wind turbine on an offshore oil platform not only helps us reduce costs towards becoming a cost leader, but it makes this strategy a sustainable model for the future to penetrate other geographic markets with abandoned or dry oil platforms, such as the middle. East. This could be achieved in the future through mergers and acquisitions with oil and gas companies. The drying up of the oil platforms would not be a surprise, but as the exact date is still uncertain, it would be in the interest of..