We have been discussing communities and collaboration, and while the benefits of communities and collaboration are similar, successful collaboration provides a specific set of advantages. The benefits of collaboration include working as a group, leveraging combined resources, accelerating innovation, and creating constructive relationships.
Within a collaborative effort, the people will provide a variety of resources, such as physical contributions, financial resources, analytical abilities, or intellectual strengths. Combining these resources enables productivity and achievements that would be impossible for a single person to accomplish.
Businesses have always benefited from combining resources, even when it does not directly generate revenue. One company collaborating with another might develop better products or enhance their services. Business collaboration combines the strengths of multiple organizations to produce superior offerings and the whole being greater than the sum of the parts.
The use of collaboration to combine group strengths can create new and innovative solutions, like the Toyota and Subaru GT86 and BRZ sports cars. Toyota and Subaru recently developed these new vehicles jointly, meeting the need for an innovative solution by combining resources and their respective strengths.
Building relationships through collaboration can create attachment between team members, loyalty, and affiliation with the group or brand. When embarking on collaborations that will continue for some time, or collaborations that will result in recurring business, these thriving relationships are an enormous benefit. A well functioning team and determining which team members work well together is invaluable to future projects. Maintaining relationships between effective groups and creating strategic partnerships, such as Toyota and Subaru, while augmenting organizational strengths, promotes the future prosperity of the business.
Collaboration provides a set of benefits that are clearly valuable for groups and organizations wishing to maximize effectiveness. The benefits of collaboration range from small to large scale, and from a small group working together to create software to two of the world’s largest motor companies collaborating on a new vehicle. From small teams to entire countries, collaboration combines resources, creates innovation, and cultivates beneficial relationships.
Visit inqiri to see how you can maximize the benefits of collaboration in the decision-making process.