COMPETITORS COLLABORATE
Earlier this year, I quoted Net-a-Porter founder Natalie Massenet on the vital importance of collaboration: Competition creates win-lose scenarios, but collaboration benefits us all.
More examples of competitors collaborating are emerging. For example, the founder of an online media network says that 'The Carousel Network was formed with the view that working collaboratively with other publishers is the smart way forward if we are going to look at a strong future of influence and reach'. By banding together with others in the industry, Carousel gains in strength and moves closer to achieving its own goals.
Collaborating on something that builds goodwill for all the competitors involved--such as a charity event or an event to increase awareness of a city or country--can result in positive outcomes for customers as well as companies. In one case, chefs from competing restaurants worked on a 'local dinner' menu that showcased their best meals and enhanced the reputation of the area as a magnet for food-lovers.
Competitors are also seeking to collaborate on new technology and new tech standards that will affect the overall industry. And of course, competitors have been collaborating (through industry groups) to tackle social responsibility and sustainability issues. Watch for more collaborative initiatives in the future.
