Coopetition – collaboration with another company while simultaneously competing with them – is increasingly pervasive with many business partners, including strategic suppliers. Unfortunately, many organizations fail to capitalize on opportunities and/or incur unnecessary risk because they fail to employ effective strategies for managing coopetition. According to our research, 30% of respondents say their companies are “very effective” at managing coopetition, 49% say “somewhat effective,” and 10% say “not effective.” Another 10% report their companies do not engage in coopetition.
During this webinar produced in partnership with the Institute for Supply Management (ISM), we discussed new data on the performance impact of effectively managing coopetition, explored differences in perspective between sales and procurement professionals, and shared best practices for navigating coopetition with strategic suppliers.
Polling data from the webinar – 70% of participants reported experiencing and/or expecting heightened conflict or competitive interactions with business partners as a result of COVID-19 – underscored the critical importance of carefully managing coopetition.
Click here to download the webinar deck.
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