Strategic partnerships are collaborative agreements between two or more organizations that aim to achieve mutual benefits. These partnerships can enhance resources, share expertise, and expand market reach. Companies often form strategic partnerships to leverage each other's strengths, such as technology, distribution channels, or customer bases, ultimately driving growth and innovation. In a strategic partnership, each party retains its independence while working together towards common goals. Examples include alliances between businesses in different industries, such as a technology company partnering with a healthcare provider to develop new solutions. These collaborations can lead to increased competitiveness and improved service offerings.