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Companies in various industries are forming strategic alliances and partnerships to enhance their resources and capabilities, improving their competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between two or more companies to work together towards a common goal. Partnerships may involve contractual agreements but typically do not include ownership ties. Joint ventures, on the other hand, are collaborative agreements involving shared ownership and the creation of a separate corporate entity. While joint ventures are more durable, they also pose higher risks. Despite the benefits, many alliances fail to meet expectations, with some estimates suggesting that up to 60% of them do not succeed.
