Posted in Marketing and Strategy Terms, Total Reads: 1422
Definition: Strategic Alliance
Strategic alliance is said to be taken place when two companies make an arrangement to share knowledge, resources etc. to complete a project or assignment which will be beneficial for both the companies. It is different than joint venture as it does not creates a separate business entity which happens when joint venture takes place.
British Petroleum and Reliance Industries have a strategic alliance to extract petroleum from DG6 basin. British petroleum shares its knowledge of deep sea extraction with Reliance Industries who has the rights of DG6 basin.