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Companies across various industries form strategic alliances and partnerships to enhance their resources and competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between companies to pursue a common objective, often involving cooperative relationships that may not include formal ownership. In contrast, joint ventures represent partnerships where an independent corporate entity is jointly owned and controlled by two or more companies. While joint ventures can offer durability due to shared ownership, they also come with higher risks. Many alliances fail to meet their expectations, with estimates suggesting that up to 60% do not achieve desired outcomes.
