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In this tutorial, the concept of strategic alliances in business is introduced. Strategic alliances are voluntary arrangements between firms that involve sharing knowledge, resources, and capabilities to develop processes, products, or services. The video explores why firms form these alliances, the major types of strategic alliances, and provides real-world examples. It highlights the growing trend of firms using strategic alliances to enhance strengths or mitigate weaknesses as a key aspect of corporate strategy in today's business environment. The discussion will cover the fundamental questions surrounding strategic alliances and their significance in modern business practices.
