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Co-opetition as a growth strategy can have both potential risks and benefits. The risks include the possibility of a competitor gaining access to proprietary knowledge and competitive advantage, which can be extremely dangerous. There may also be significant internal pushback, particularly from sales and legal departments, as these teams may have been competing for years. On the other hand, the benefits of co-opetition can include the convergence of strategic goals and divergence of competitive goals. This strategy works best when organizations are small, the market share to be captured is vast, and each organization can learn from the other while safeguarding their proprietary skills. Co-opetition can also lead to customer and product diversification through sharing R&D costs and intellectual property.
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This is an extremely dangerous growth path which could lead to a competitor gaining access to proprietary knowledge and competitive advantage. It's important to proceed with caution. Co-opetition works best when strategic goals converge, and competitive goals diverge. Ideal conditions are when organizations are small, the market share to be captured is vast and each can learn from the other while safeguarding their proprietary skills. Sometimes it is safer to first engage with a competitor is through a Partnership (Path 8) before proceeding further. Strategic partnerships can be used for Customer and Product Diversification (Path 5) through sharing R&D costs and IP. Expect significant internal pushback particularly from sales and legal departments as these teams have competed for decades.
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How do you find the right strategy to grow your organization in a rapidly changing business environment? "Growth IQ" distills decades of tested strate...
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