Eighteen years ago, five airline companies—Lufthansa, Air Canada, United Airlines, Thai Airways and Scandinavian Airlines—formed an alliance with a vision to offer better services to their customers. Under the banner of Star Alliance, these companies started sharing resources such as sales offices, maintenance facilities, operational staff, and seating capacity. As a consequence they could offer customers a broader set of destinations, options for collecting and using mileage points across partner airlines, and lower prices because of cost consolidation. Customers saw immediate value in this seamless enhancement in the scope of services. …
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API Magazine Comment:
Using APIs as the enabler of establishing relationships between organisations is also often referred to as business development 2.0.
This article describes the benefits very well. In essence, businesses can achieve new partnerships with higher agility at lower cost. It is true that APIs alone in many cases will not replace legal agreements, but the access to assets is almost always immediate.
The API economy is growing and more and more organisations adopt best-practices such as publicly opening their API descriptions. Third parties can investigate and see the value of a potential alliance before cost-intense negotiations are initiated.
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