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Companies across various industries are forming strategic alliances and partnerships to enhance resources and capabilities, thereby strengthening competitiveness in both domestic and international markets. A strategic alliance is a formal agreement between two or more companies working towards a common goal, often formalized through contracts but not involving ownership ties. In contrast, joint ventures involve creating an independent corporate entity that is mutually owned and controlled, making them more durable yet riskier than other agreements. Despite their potential, a significant number of alliances do not meet expectations, with estimates indicating that as many as 60% may fall short.