A strategic alliance is a collaborative relationship between two separately owned companies in which resources, risk, and operational control are shared.
A strategic alliance is an agreement between two companies to collaborate on a task that will be advantageous to both while preserving each company's autonomy. A company could create a strategic alliance to boost its market share, expand its line of products, or outperform competitors. The agreement allows two companies to work together on a project that will benefit both of them.
A corporate partnership has a number of advantages. These include the development of new opportunities, the transfer of technology, organisational effectiveness, cost reductions in design and after-sales services, and enhancements to financial performance.
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