The XYZ Company is collaborating with a competitor on a globally based opportunity for mutual benefit, but the two competitors are not investing in one another. This is an example of

strategic alliance

Explanation: A strategic alliance agreement or arrangements that allows two or more parties to agree on a set of objectives which are mutually beneficial to them while remaining independent and not investing in one another . The agreement/ rules of the buisness is less complex and companies enter into it so as to expand into a new market, improve thier production line or be more competitive over a competitor. The arrangement allows businesses to work toward a common goal while benefiting themselves.

Most of the time, Strategic alliances are formed if they provide an advantage to all the parties involved . The following are some advantages that can lure companies enter the his alliance

--organizational advantages

This occurs when company can learn necessary methods and processes and obtain certain privileges from his partner. especially If the company is new or lacks experience certain industry, having a strategic partner who isrespected will add credibility to your buisness Another is Economic advantage is that A Company can reduce costs and risks by distributing it's alliance partners . You can also obtain greater economies of scale in an alliance, leading to production increase.

Strategic alliance

Explanation:

Strategic alliances are agreements that are made between two or more firms to cooperate together in the manufacturing, development, or sale of products and services or to carry out other business objectives.

Companies decide to form strategic global business alliances for many reasons. One of the most important reasons is to gain access to another company's knowledge or resources.

Organisations can also decide to join forces to develop new products or to gain access to a market that neither could enter alone.

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