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Welcome to Business School 101. Strategic alliances are key in today's business world, where firms join forces to enhance strengths or alleviate weaknesses. They involve sharing knowledge, resources, and capabilities to develop processes, products, or services. Examples include Starbucks in Target stores and BMW i8 posters in Louis Vuitton stores. In this video, we explore what strategic alliances are, why firms form them, the types, and famous real-world examples. Stay tuned to learn more.