Raj Patel's specialty pharmaceuticals packaging firm needs to be more agile in order to be competitive in the marketplace. Foregoing buying a full-service laboratory because of the investment and risk, Patel decides to form a ________ with a chemical firm in China that has a laboratory but lacks a packaging business. Each company brings a complementary capability to the other, allowing them to pursue mutual goals.

Question

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A strategic alliance allows both companies to leverage their complementary capabilities and pursue mutual goals without requiring a large investment or risk from either party. This option is more feasible and flexible for Patel's pharmaceuticals packaging firm to be more agile in the marketplace.

Raj Patel's Specialty Pharmaceuticals Packaging Firm Needs to Be More