Friend Or Foe: The Must-Have Feature Of Winning Collaborations

Collaborations work best when they “grow the pie” with complementary offerings.
 
Image: GETTY

“Keep your friends close, and your enemies closer,” Michael Corleone once said. But what happens when the line between friend and enemy is blurred, especially as relationships and competitive strategies evolve over time? It means that business leaders need to have a clear picture of how a collaboration will create value for both companies, and at the same time be wary of how things could change down the line in ways that could lead to business and regulatory risk.

Specifically, it is critical to think about what competitive options become available to you and your partner as a result of a collaboration. Let’s look at some examples.

Shortly after Apple released its iPhone in 2007, it offered app developers the opportunity to put their app up on the App Store, so long as the app met certain criteria. This created value for both Apple and the developers because Apple gained access to valuable apps, which encouraged consumer adoption of the iPhone, while the developers gained a large audience of potential users…READ ON

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