The world in which companies act, becomes more complex every day. Business environments are more diverse, dynamic, and interconnected than ever. Which makes them far less predictable.
One strategy to survive this faster environment is coopetition. This requires companies to create business strategies that capitalize on relationships in order to create maximum value in the marketplace. A model in which a network of stakeholders cooperate and compete to create maximum value.
Digital disruption is radically changing the way businesses start and grow. Over the past few years, several industries have been shaken up. Global digital transformation forces all industries to radically rethink proven business models, to change fast and continuously.
No longer can the corporate giants rely on being the leanest and meanest to stay at the top of their game. Amassing resources and expertise is no longer enough to guarantee success. To a large extent, it’s who and more than what you know that matters.
Being agile and responsive is crucial to gaining, and keeping, a strategic advantage. As such, flexibility is key for success.
Small businesses face massive competition, ranging from global super-corporates and established market leaders to innovative entrepreneurs working out of their bedrooms.
It is the art of collaboration that gives SMEs a strategic advantage in a competitive marketplace. The infrastructure of huge enterprises can be clunky and cumbersome. While smaller businesses that operate within a collaborative network can take decisions and adapt to new trends and customer bases much faster.
Hundreds of startups are launched each month. Startups are changing the way we think about competition because they tend to thrive by having access to resources they do not own. They tap into new ways of doing business, embracing freelancers and crowdfunding amongst others. As start-ups and small businesses flourish, digital commerce continues to boom and industry boundaries break down.
Collaboration is the New Competition
Competition suggests a win-lose situation in which data, contacts and other resources are hoarded and closely guarded. Collaboration and coopetition on the other hand reflect a win-win strategy because it permits the sharing of information and ideas.
Achieving repeated innovation in this context is easier and faster than in a secretive, hyper-competitive environment because collective intelligence is an unrestricted resource that can be shared openly to spark ideas and create change. By innovating and constantly updating what you do and how well you do it, you can compete successfully, even in a crowded marketplace.
Coopetition or cooperative competition is the new way, whereby businesses push one another to be more productive by working together, while also safeguarding each individual’s competitive advantage. At first glance it might seem weird that competition and collaboration can co-exist. But in fact, collaboration is simply competition in a different form, it is all about joining with the competition to achieve greater success together.
The key benefit of coopetition and collaboration is speed and time to market. Working collaboratively significantly reduces the time and the costs associated with new product development. Collaboration (and coopetition) allows business owners access to new products and markets at the speed that today’s marketplace demands.
the future belongs to ecosystems
Today, your competitive advantage is not driven by the resources you control, but those you can access. Increasingly, rather than owning resources and capabilities outright, we use platforms to access ecosystems of technology, talent and information. The path to success no longer lies in clawing your way to the top of the heap, but in nudging your way to the center of the network.
The future belongs to ecosystems. Networks of organizations transacting to create value for themselves and the rest of the ecosystem within one or more market environments. The ability to innovate – whether by improving existing products, services or processes, or by generating new ones – is crucial to business success.
Being able to capitalize on your relations requires a deep and profound insight in your ecosystem. Knowing your competitors and partners will lead to more possibilities of collaboration (or coopetition). This will not only push you up, but can improve the situation of the entire cluster.
DataScouts helps companies to stay front runners in their business! DataScouts uses network intelligence to aggregate business critical information and to spot market trends, relevant innovations, deal makers and key influencers.
We provide a platform to help with the process of building ecosystem intelligence. The interactive visualisations and the benchmarking capabilities provide insights about the players, trends and dynamics within the ecosystem and allow companies to build and leverage their competitive advantage. Harvesting, unifying and aggregating data is a vital part of DataScouts.