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In this tutorial from Business School 101, the concept of strategic alliances is explored. Strategic alliances are voluntary arrangements between firms that involve sharing knowledge, resources, and capabilities to develop processes, products, or services. The video highlights the increasing prevalence of such alliances in today's business world, as companies seek to enhance strengths or mitigate weaknesses. It emphasizes the importance of understanding what strategic alliances are, the reasons firms pursue them, the major types of alliances, and notable real-world examples. Overall, the segment aims to provide clarity on the strategic use of alliances in corporate strategy.