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In this video tutorial, the concept of strategic alliances in the business world is explored. Strategic alliances are defined as voluntary arrangements between firms that involve sharing knowledge, resources, and capabilities to develop processes, products, or services. The rise of such alliances has become prominent in recent decades, with many firms utilizing them to enhance strengths or compensate for weaknesses. The tutorial will address key questions regarding the nature of strategic alliances, reasons for their formation, major types, and notable real-world examples.