Strategic Alliance - Definition
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What is a Strategic Alliance?
A strategic alliance is a joint effort or project by two companies. The companies agree to share resources in pursuit of a common goal, objective, or project.
It is similar to a joint venture. The difference between a strategic alliance and joint venture is that the members do not form a separate entity together. As such, the relationship is less formal and binding.
A strategic alliance can enable an organization to work more effectively, expand into an exclusive market, or have a competitive edge over others. It helps both the organizations in achieving a specific yet mutual objective that will prove to be advantageous for both. This advantage can last either for short-term or long-term, and can take place formally or informally between the companies involved.