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In this video tutorial on Business School 101, the concept of strategic alliances is explored. A strategic alliance is defined as a voluntary arrangement between firms to share knowledge, resources, and capabilities aimed at developing products, processes, or services. The speaker highlights the growing prevalence of such alliances in the business world as companies seek to enhance their strengths or address weaknesses. Key questions addressed include the reasons firms form strategic alliances, the main types of alliances, and notable real-world examples. The discussion emphasizes the increasing use of strategic alliances to implement corporate strategies effectively over the past few decades.