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In this tutorial from Business School 101, the concept of strategic alliances is explored. Many firms are increasingly forming these voluntary arrangements to share knowledge, resources, and capabilities, aiming to enhance strengths or compensate for weaknesses. Strategic alliances can facilitate the development of processes, products, or services. The video examines why companies opt for these alliances, the major types that exist, and provides real-world examples, highlighting their growing significance in corporate strategy over recent decades.