Thursday, 10 January 2013

Exploit collaborative capital

Creating a reputation for being committed to working in partnership with other players in an industry or sector is of immense value.

New biotechnology companies seek out well known and well established biotechnology and pharmaceutical companies with which to collaborate. Being associated with these trusted players helps address the legitimacy and credibility issues that automatically attach themselves to most new ventures. It can also help them gain additional influence within their sector and attract increased funding from investors. 
The Italian oil company Eni has a long standing reputation for seeking to forge alliances with African national oil companies. The fact that they did this first, at a time when other international oil companies showed little or no interest, and have consistently maintained and developed this approach over many decades, has made them a partner of choice for many national oil companies.
The IT company Intel has gained much collaborative capital from its high profile and highly successful history of collaborations with others from within its sector.
Being involved in fruitful collaborations with key competitors and others of present or potential significance provides companies with collaborative capital that is as valuable as money in the bank. Organisations can use this capital to enhance their legitimacy and credibility, gain influence within their sector or industry and become a trusted partner of choice for their competitors.

For more about collaboration go to: Sleeping-with-the-Enemy-Achieving-Collaborative-Success-2nd-Edition

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