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In this tutorial, "Business School 101," the concept of strategic alliances is introduced. It highlights how many firms are forming these voluntary arrangements to share knowledge, resources, and capabilities with the aim of developing products and services. The video explores why companies choose to enter into strategic alliances, the major types associated with them, and presents notable real-world examples. It notes the increasing relevance of strategic alliances in implementing corporate strategy, emphasizing their growth over recent decades as businesses seek to enhance strengths or address weaknesses.