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Welcome to Business School 101! Strategic alliances are partnerships between firms to share knowledge, resources, and capabilities for developing processes, products, or services. Businesses form these alliances to enhance strengths or compensate for weaknesses. The types of alliances vary, and they have become increasingly common in today's business world.Examples include Starbucks in Target stores and BMW in Louis Vuitton stores. In this video, we explore what strategic alliances are, why firms form them, the different types, and real-world examples.