Which strategy emphasizes building relationships with partners or making joint ventures?

The strategy that emphasizes building relationships with partners or making joint ventures is strategic alliances. This approach involves collaboration between two or more organizations to leverage their respective strengths, share resources, and achieve mutually beneficial objectives. By forming strategic alliances, companies can enhance their competitive positions in the market without the full risks and commitments associated with mergers or acquisitions.

In strategic alliances, businesses may engage in activities such as co-marketing, research and development collaborations, or technology sharing. This can lead to increased innovation, access to new markets, and improved operational efficiencies, ultimately driving growth.

Other strategies listed do not focus on partnerships in the same way. Market development is centered on expanding into new markets or segments, concentric diversification involves branching out into related business areas to reduce risk and enhance synergies, and product development focuses on creating new or improved products to increase market share. These strategies may involve partnerships, but they do not prioritize relationship-building and joint ventures as a core element of their approach.