Strategic alliances are

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Strategic alliances are collaborative formal arrangements between two or more companies with the aim of working cooperatively towards a strategically relevant objective. Through such alliances, companies can leverage each other's strengths, resources, and capabilities to achieve mutual benefits such as increased market share, reduced costs of production, or shared risks. While strategic alliances can help companies obtain new technologies and products, they may not necessarily be the cheapest means of doing so. Similarly, while alliances can improve a company's value chain, they may not be the only means of doing so. Strategic alliances may also help a company insulate itself from competitive forces, but this is not necessarily their primary purpose.

Strategic Alliances Are