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The Value of Collaborating with Competitors

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in Leaders & Managers,Leadership Skills

You can’t run your business in a bubble. As tempting as it may be to build an impenetrable barrier to keep you and your employees from sharing any information with your competitors, that strategy is shortsighted.

It makes sense to track your operations against those of your peers. It will help your organization learn what competitors are doing, see where they are succeeding, and develop ideas for improving your own organization’s processes.

There are numerous ways to exchange information without giving away trade secrets. Rod Kurtz, writing for Bloomberg’s Businessweek.com, suggests these creative ways to connect with competitors:

Scope them out

Do you belong to an industrywide trade group? Do you plan to attend a conference or a workshop? Do you subscribe to an industry newsletter? All of these vehicles offer a good start for tracking down and benchmarking your closest competitors. “It’s important to shop the competition,” ...(register to read more)

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