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Welcome to Business School 101! In today's business world, firms are increasingly entering strategic alliances to enhance their strengths or compensate for weaknesses. Strategic alliances are voluntary arrangements between firms that involve sharing knowledge, resources, and capabilities to develop processes, products, or services. The use of strategic alliances to implement corporate strategy has grown in the past few decades. Stay tuned as we discuss why firms form strategic alliances, the major types, and some famous real-world examples.
