A strategic alliance is a partnership between two or more companies to work together and share resources to carry out joint projects. For example, the company cooperates with a distributor to develop a new distribution network specifically for its products.
It is beneficial to create a competitive advantage in new markets and work towards shared goals. Strategic alliances are less permanent than joint ventures. Also, it does not form new entities such as joint ventures but rather collaborates while remaining separate.
Alliance can also fail. One of the reasons to cooperate is to get access to the knowledge or resources of other companies. Hence, partners might copy company competencies, develop themselves, and then compete with the company.