Respond to the following in a minimum of 175 words: Alliances are often used to pursue business-level goals, but they may be managed at the corporate level. Explain why this portfolio approach to...

Running Head: STRATEGIC MANAGEMENT                        1
STRATEGIC MANAGEMENT                                2
STRATEGIC MANAGEMENT
Alliances are relationships between two entities who came together for a specific business motive. Strategic alliances help in sharing control, risks, assets and strengths. They are long- term association and have influence on organizational performance. It is researched that strategic alliances are able to add value by being major change agent in the system.
The portfolio approach makes sense because it helps to gain competitive advantage which is critical for development and maintenance of core competencies of the organization. It helps to accomplish the goals decided by the organization. According to...