How Does Taking a Real-Options Perspective by Entering Strategic Alliances

How does taking a real-options perspective by entering strategic alliances help incumbent firms?

A) It helps the incumbent firms gain the confidence of the partnering company by making credible commitments.
B) It helps the incumbent firms reduce the value gap they create through their product and service offerings.
C) It allows the incumbent firms to buy time and wait for the uncertainty surrounding the market and technology to fade.
D) It reduces the incumbent firms' cost of acquisition by enabling them to make the entire investment decision in the beginning itself.