strategic-alliance

Vocabulary Word

Definition

'Strategic alliance' is like a professional friendship between two companies. They agree to work together on a project or a set of business operations to create mutual benefits.

Examples in Different Contexts

In global expansion, strategic alliances often help companies enter new international markets by partnering with local firms that have established market presence and understanding. A global strategy director might state, 'Our strategic alliances with local partners in Asia have been key to our successful market entry and growth in the region.'

Practice Scenarios

Business

Scenario:

I think we may benefit from a closer partnership with XYZ Inc. Their technology and our market outreach seem to complement one another.

Response:

Indeed, a strategic alliance with XYZ Inc would definitely give us a competitive edge in the market.

Public-Policy

Scenario:

The NGOs working in the same space as us can help strengthen our advocacy efforts. Our aligned interests could set the stage for efficient collaboration.

Response:

A strategic alliance with these NGOs would certainly amplify our impact in terms of public policy.