Commercial rivals must look at working together to gain edge
‘Competitive co-operation’ in business can result in a better outcome for all
Michael Carey, managing director of East Coast Bakehouse: “By working together the food and drink industry has made good progress towards establishing a clear customer proposition for food and drink sourced from Ireland, building a reputational brand under the banner of Origin Green.” Photograph: Eric Luke
The power of “co-opetition” is evident in some business sectors in the voluntary sector and, potentially, in the structure of the current minority Government. It’s a mangled word used to describe “competitive co-operation” where firms and organisations that sometimes aggressively compete find a way to work together, resulting in a better outcome for all.
It goes beyond simply competition and co-operation, combining the advantages of both and expanding the overall size of the prize. It works well in the food sector, and it has an application in many other areas.