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In this tutorial from Business School 101, the concept of strategic alliances is explored. It begins by illustrating examples of strategic partnerships, such as Starbucks within Target stores and Louis Vuitton featuring BMW posters. The video explains that strategic alliances are voluntary arrangements where firms share knowledge, resources, and capabilities to develop products or services. The increasing prevalence of these alliances in the business world is noted, indicating their role in enhancing strengths or compensating for weaknesses. The instructor will address the definition of strategic alliances, reasons for forming them, their major types, and provide real-world examples.