Because strategic alliances rarely work as well as managers expect they will, companies continue to go through with them because many business owners, managers, and analysts believe they are necessary for an industry to survive.
In the business world, staying afloat is essential; otherwise, the competition will drown the business.
Strategic alliances are one method of retaining your stake.
A strategic alliance is an agreement between two businesses that have decided to pool their resources in order to complete a specific, mutually beneficial project.
This agreement may assist a company in developing a more cost-effective process. and achieving its goals more quickly.
Strategic alliances rarely work as well as managers expect them to, but companies continue to pursue them because business owners, managers, and business analysts believe they are necessary for industry survival.
Hence, the answer is many business owners, managers, and analysts believe they are necessary for an industry to survive.
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