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In this video tutorial, the concept of strategic alliances in business is introduced. A strategic alliance is defined as a voluntary arrangement between firms, focusing on sharing knowledge, resources, and capabilities to create processes, products, or services. The use of strategic alliances for implementing corporate strategies has significantly increased over recent decades. The video explores why firms form these alliances, the major types of strategic alliances, and offers real-world examples, illustrating the growing trend of firms collaborating to enhance their strengths or compensate for weaknesses. The introduction highlights the prevalence of these alliances in familiar retail environments.
