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In this video tutorial from Business School 101, the concept of strategic alliances is explored, illustrating their prevalence in today's business landscape. A strategic alliance is defined as a voluntary arrangement between firms that involves sharing knowledge, resources, and capabilities to develop products, services, or processes. The video aims to address key questions, including the reasons firms form strategic alliances, the major types of alliances, and notable real-world examples. It highlights the growing trend of companies engaging in these partnerships to enhance strengths or mitigate weaknesses, emphasizing the increased use of strategic alliances in corporate strategy over recent decades.