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This video tutorial on Business School 101 discusses the concept of strategic alliances in today's business world. Strategic alliances are voluntary arrangements between firms to share knowledge, resources, and capabilities to develop processes, products, or services. The use of strategic alliances has increased in recent decades as firms seek to enhance strengths or compensate for weaknesses. The tutorial explores the reasons why firms form strategic alliances, the major types of alliances, and provides examples of famous strategic alliances in the real business world.