Compete or Collaborate?
Win/Win is by definition competitive. After all, that’s what ‘Win’ means. Ultimately you are seeking a big Win for you, and to merely satisfy the other party. This is a common approach used for managing and leading critical negotiations.
The alternative is 60/60 thinking. In this case the emphasis is on uncovering, creating, and sharing value. For example, by elevating business conversations, collaborate and develop sustainable partnerships across the value chain for competitive advantage.
So which approach is better?
Competition is a Business Necessity
80% of senior executives admit to leaving money on the table. The other 20% are lying.
You need to be able to ‘swim with the sharks’ as you negotiate to compete for resources, for customers, for mind-share. And sometimes you need to influence without authority (even when you have it).
Collaboration is a Business Necessity
More than ever, we are working across the value chain with multiple stakeholders and partners to deliver business outcomes. We focus on deals and partners who provide the best growth opportunities, marketing advantages, and potential business value. Added to this we are juggling change and digital transformation.
Collaboration and partnering across the value chain is no longer a luxury, it is now a business necessity. We need to become smarter as organisations, how we define success, engage with stakeholders and manage relationships.
Smart collaboration and partnerships is the ‘secret sauce’ of smart organisations.
Whether you Compete or Collaborate the Answer is in the Dialogue
Today’s leaders must excel at dialogue; we must be adept at handling interactions with a wide range of stakeholders including customers, business partners, internal customers, shareholders, regulators and the media. At Coalface we recognize the answer is in the dialogue.