Firms can use Strategic alliances to strengthen their competitive advantage when competing in battles to control industry standards is True
A strategic alliance is an agreement between two businesses to work on a beneficial project together while each company maintains its independence.
Compared to a joint venture, which sees two companies combine their resources to form a new company, the arrangement is simpler and less legally enforceable.
With the use of strategic partnerships, a company may expand its customer base without spending more resources. Creating a strategic partnership gives a franchise firm the chance to expand its clientele and attract new prospective clients. Franchise businesses are continuously looking for fresh, innovative methods to achieve this.
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