Which of the following best describes a strategic alliance?
A)It is a long-term partnership between two organizations designed to accomplish the strategic goals of both parties.
B)It is a collaboration of two different departments within an organization to implement the organization's strategic plan.
C)It is a team consisting of members from different functional areas of an organization that work together to solve a strategic issue.
D)It is an alliance with experts outside an organization who are called in to help the organization generate new product ideas.

Question

Quizplus · Accepted Answer

A strategic alliance involves a long-term partnership between two organizations, with the aim of achieving mutual strategic goals. It could involve sharing resources, knowledge, and expertise to achieve a competitive advantage. It is different from internal collaborations within an organization, such as cross-functional teams or task forces, as it involves external partners. It is also distinct from external experts who may be contracted by an organization on a short-term basis to provide specialized skills or knowledge.

Which of the Following Best Describes a Strategic Alliance