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A strategic alliance or partnership C) has the advantage Of being the cheapest means Of developing new technologies and getting products to market quickly. C) has the distinct disadvantage of preventing a company from being totally independent and self-sufficien with regard to each and every skill. resource, and capability it may need. @ is a formal agreement between two or more separate companies in which there is strategically relevani collaboration Of some sort, joint contribution Of resources, shared risk, shared control, and mutual dependence. C) typically helps insulate a firm from the adverse impacts of both competitive pressures and industry driving forces. especially if the alliance is with suppliers, C) is an important cross-business arrangement that allows rivals firms to operate their businesses in a more collaborative and cooperative fashion rather than resorting to competitive warfare that erodes their respective profitability.