This report is based on speeches presented and material gathered at the 1997 Strategic Alliances Conference. This conference, co-sponsored by Booz Allen & Hamilton, addressed the challenge of how to build an institutional capability to forge successful alliances on a repeatable basis, with an emphasis on how to embed learning in an organization. Executives from major companies including MasterCard International, United Parcel Services, Xerox Corp., and Lotus Development Corporation gathered to examine the methodology for building an alliance capability into a core competency, from the initial stages of identifying appropriate partners on into capturing the knowledge gained by past efforts and embedding it into the organization in a usable fashion. (20 pages)