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This video tutorial discusses the concept and importance of strategic alliances in the business world. Strategic alliances are voluntary arrangements between firms that involve sharing knowledge, resources, and capabilities to develop processes, products, or services. Companies enter into strategic alliances to enhance their strengths or compensate for weaknesses. The use of strategic alliances has been on the rise in recent years. The tutorial explores the major types of strategic alliances and provides real-world examples of famous partnerships between companies.
