© 2010, © Emerald Group Publishing Limited. Purpose – The aim of this paper is to identify the benefits seen by management in high technology strategic alliances using a means-end framework. Design/methodology/approach – Qualitative interviews with firm executives were conducted and a survey was then administered. Structural equation modeling was used to test hypotheses derived from the qualitative stage of the research. Findings – The results indicate that managers perceive that social, operational, and financial alliance attributes contribute to new product opportunities and increased profitability, which in turn enhances both shareholder value and the opportunity to create societal value. Originality/value – In addition to the specific findings related to strategic alliances, the study represents an initial use of a means-end framework to gather both firm-level qualitative and quantitative data from executives.