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Companies in various industries often form strategic alliances and partnerships to enhance their resources and capabilities, boosting competitiveness in both domestic and international markets. These alliances involve formal agreements between multiple companies to work together towards a common goal, without necessarily involving ownership ties. Collaborative relationships may include contractual agreements and joint ventures, where a new independent entity is jointly owned and controlled by the companies involved. Joint ventures are more long-lasting but also riskier compared to other partnership arrangements. However, many alliances may not meet their intended goals, with up to 60% of them falling short of expectations.
