Title: “Navigating the Challenges of Strategic Alliances: Factors for Success and Avoiding Failure” Introduction: A strategic alliance is a common business strategy used by companies to achieve a mutually beneficial goal. It involves two or more separate entities

A strategic alliance is a formal agreement between two or more separate companies in which they agree to work collaboratively toward some strategically relevant objective. Discuss the success factors that must be in place for a strategic alliance to work and provide your assessment of why 60 to 70 percent of new alliances fail in the first year. Roughly, the number of new alliances created each year is about 25 percent of the total alliances currently operating. Use your analytical skills to decide which factor(s) of a successful alliance are more likely to contribute to such a high failure rate and offer your guidance on how you would avoid failure if you were part of a newly created alliance
Please details and provide examples.