Meaning of Strategic Alliance Image Source - Google | Image by - https://blogs.kent.ac.uk A Strategic Alliance is a formal relationship between two or more parties to pursue a set of agreed-upon goals or to meet a critical business need while remaining independent organizations. During the past decade, companies in all types of industries and in all parts of the world have elected to form strategic alliances and partnerships to complement their own strategic initiatives and strengthen their competitiveness in domestic and international markets. This is an about-face from times past, when the vast majority of companies were content to go it alone, confident that they already had or could independently develop whatever resources and knowhow were needed to be successful in their markets. But the globalization of the world economy, revolutionary advances in technology across a broad front, and untapped opportunities in national markets in Asia, Latin America, and Europe that a