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

A strategic alliance is a formal agreement between two or more parties to pursue a set of agreed-upon objectives while remaining independent organizations. A corporate executive might say, 'Forming a strategic alliance with our industry peers allows us to share resources and tackle larger market opportunities together.'

Practice Scenarios

Tech

Scenario:

ABC Tech's groundbreaking AI capabilities seem well-suited to our product's functioning. The synergies are apparent.

Response:

You're right. With a strategic alliance with ABC Tech, we could integrate their AI capabilities into our product.

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.