A(n) ________ exists whenever two or more independent organizations cooperate in the development, manufacture, or sale of products or services.

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A strategic alliance is a type of cooperative agreement wherein two or more organizations come together to develop, manufacture, or sell products or services. The organizations involved in a strategic alliance may be independent of each other or even competitors in some cases. The primary objective of forming a strategic alliance is to leverage each other's strengths and capabilities to achieve common goals, such as reducing costs, increasing market share, or entering new markets. In contrast, a vertical market refers to a specific industry or group of industries where one company provides goods or services for the entire supply chain, from raw materials to finished products. An initial public offering is a process of offering shares of a company's stock to the public, and a market transaction refers to any exchange of goods or services between buyers and sellers in a particular market.

A(n) ________ Exists Whenever Two or More Independent Organizations Cooperate