Business alliances are partnerships between two or more companies that work together to achieve common goals. These collaborations can take various forms, such as joint ventures, strategic partnerships, or informal agreements. By pooling resources, expertise, and networks, businesses can enhance their competitive advantage and expand their market reach. Such alliances can lead to shared risks and costs, making it easier for companies to innovate and enter new markets. For example, a technology firm might partner with a manufacturing company to develop a new product, combining their strengths to create something that neither could achieve alone.