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In this video tutorial, "Business School 101," the concept of strategic alliances is explored. Strategic alliances are voluntary agreements between firms to share knowledge, resources, and capabilities to develop processes, products, or services. The increasing trend of firms forming these alliances aims to enhance strengths or compensate for weaknesses. The tutorial discusses the reasons why firms opt for strategic alliances, outlines the major types, and provides notable real-world examples. The usage of strategic alliances has significantly surged in recent decades, becoming a vital component of corporate strategy.