Abstract
In the current scenario of globalization of business, strategic alliance is emerging as a powerful management tool in business management. Though alliances are as old as the industrialization during the 15th and 16th centuries, they are being refocused in the 20th century. But, strategic alliance is not an unmixed blessing as more number of alliances have turned out to be failures. In this article, Dhawal Mehta and Sunil Samanta discuss the nature and significance of strategic alliance by citing a few recent cases of strategic alliances in the Indian industry, argue out why strategic alliance should be resorted to, and list out do's and dont's to enable Indian companies to successfully catapult themselves to the mainstream of global business.
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