business-alliances

Vocabulary Word

Definition

A 'business alliance' is a formal agreement between companies to share resources and work together towards a common aim. Think of this as friends helping each other with homework to score better in an exam.

Examples in Different Contexts

In international business, 'business alliances' help companies navigate foreign markets by partnering with local firms. An international business strategist might explain, 'Through our business alliances, we've been able to adapt our products to meet local preferences and regulatory requirements.'

Practice Scenarios

Impact

Scenario:

We are exploring partnerships with corporations to secure funding for our social responsibilities programs.

Response:

I agree, creating business alliances with corporations can help us get the necessary funding for our projects.

Marketing

Scenario:

Our marketing campaign could benefit from aligning with a brand that resonates with our target demographic.

Response:

That sounds like a great idea. A business alliance with a popular brand would certainly elevate our campaign reach.