[SOLVED] A strategic alliance or partnership

has the advantage of being the cheapest means of developing new technologies and getting new products to market quickly.

is a formal agreement between two or more separate companies in which there is strategically relevant collaboration of some sort, joint contribution of resources, shared risk, shared control, and mutual dependence.

has the distinct disadvantage of preventing a company from being totally independent and self-sufficient with regard to each and every skill, resource, and capability it may need.

typically helps insulate a firm from the adverse impacts of both competitive pressures and industry driving forces, especially if the alliance is with suppliers.

is an important cross-business arrangement that allows rivals firms to operate their businesses in a more collaborative and cooperative fashion rather than resorting to competitive warfare that erodes their respective profitability.