Strategic alliances are partnerships between two or more organizations that work together to achieve common goals while remaining independent. These collaborations allow companies to share resources, knowledge, and expertise, which can lead to increased innovation and market reach. For example, a technology company might partner with a manufacturing firm to develop a new product, combining their strengths for better results. These alliances can take various forms, such as joint ventures, co-marketing agreements, or research collaborations. By leveraging each other's capabilities, businesses can reduce risks and costs while enhancing their competitive advantage in the market. This approach is especially beneficial in rapidly changing industries like technology and healthcare.