The value of Collaboration

Business Update

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Director Lynn Gibson recently attended an IOD breakfast meeting.  The topic of discussion was collaboration.  Here is her summary of the discussion:

Collaboration definitions:

  1. Informal arrangement prior to written agreement
  2. People coming together to share values and practice with a clarity of purpose
  3. Share ideas for mutual benefit

 

General feeling: 

Collaboration is about establishing a group of people you trust with tools to maintain trust.

 

Positives:

Allows people to share skills / problem solve

Makes for awareness of mutual business opportunities

Many tools to assist collaboration

 

Problems:

How to give recognition

Who owns the value

Cross over of interests

Needs clarity of roles

Decision making by committee

Overuse of technology can hinder

Competitors/ cultural mismatch

Senior management not keeping up

EU!

 

 

Comments/ Summary:

30% of value is added to a business by 5% of employees who are collaborating!

Trust, ethos/ethics and shared tools/ technology seem to be imperative elements of a positive collaboration.

Care must be taken to prevent decisions by committee without leadership.

Difficult to ensure obtain monetary value/ profit.

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