BUSI 1604 – Foundation of Scholarship and Research
Topic Review
Business Collaboration – A new strategy to success
Is business collaboration, rather than market competition, becoming the key to success?
Discuss in relation to two Sectors.
Table of Contents
Introduction 4
The business value of collaboration 5
Information technology 5
Automotive Industry 6
Conclusion 8
References 8
Introduction
Collaboration is a joint effort and well-defined relationship entered into by two or more organizations to accomplish a task or project. Successful collaboration is defined as “a win/win arrangement that is likely to provide improved business success for both parties”. (McClellan, 2002, p20). Organizations are
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Another major challenges of any technological industry is R&D and capital expenditures, the R&D and capital expenditures cost is more than innovative output (Fritsch and Franke, 2004). For this organizations have been progressively prompted perform cooperative R&D to establish technological collaboration. For industries to sustain in market they often requires knowledge beyond organizations boundaries in order to overcome the existing technological base and dynamics, which requires innovation to create innovative technologies to compete against other industries to sustain in the market, industries think “two heads are better than one”, Some tasks may be accomplished more easily by two entities working together than by one working alone. So industries are collaborating to develop variety of products, which leads to the business success. The speed of change, particularly as businesses look to move into new areas in tough times, mean that the industries must invest more in creative-focused R&D, and look to exploit existing strengths through new business.
Reid, B. (2010) elaborates on the creative perspective of collaboration by citing an examples of the famous social networking site Facebook joining hands with formally-stable industry Zynga games to provide an additional feature to its users. This collaboration was a so successful that, the revenue of the both the industries boosted so high that marked a record breaking hits. As this helped them to
No matter the format for collaborating, the purpose is to work with one person or more in an organized manner to come to an end goal or conclusion.
Collaboration is when a student contributes to a group’s joint intellectual efforts through work ethic, leadership, and service. The artifacts I’ve chosen will come from my Honors English class and my Physical Science class. The artifact from my Physical Science class a video/ rubric from an in class bottle rocket competition that I participated in along with my friend Jacob in October 2015. The artifact from my English class is a rubric from a book club project completed in January of 2016. The purpose of the bottle rocket project was to display our understanding of velocity, and determine what factor could keep the rocket in the air the longest. The purpose of the book club project was to display our critical thinking skills and effectively
Individuals and their discoveries are not enough on their own to bring medical progress. Explain how far this statement applies to Jenner and his work.
Ferreira, J., & Prokopets, L. (2009). Does offshoring still make sense? Supply Chain Management Review, 13(1), 20-n/a., pp 1-5, Retrieved from http://search.proquest.com/docview/221135949?accountid=12085
On the television there is way too much negativity that influence the youth and adults mind when we do not even know what is going on. The three television programs I observed had the following: physical, verbal, and relational (bullying). In the television show Martha Stewart she had few aggression in her show. In The Fairly Oddparents, it had way more aggression than Martha Stewart and Everybody Loves Raymond. Now Everybody Loves Raymond has fewer more tv agressions than Martha Stewart.
Camara, S. K., & Orbe, M. P. (2011). Understanding Interpersonal Manifestations of 'Reverse Discrimination' Through Phenomenological Inquiry. Journal of Intercultural Communication Research, 40(2), 111-134. doi:10.1080/17475759.2011.581032
Supply chains represent the procurement, production and distribution activities of an organisation. Within a supply chain, these activities are viewed as linked and reliant on one another to produce the final outcome. It is believed that if one component of the chain fails, the whole chain is broken and product/service delivery goals will not be achieved.
The bottom line to working with other organizations in collaboration, is considering how to work toward a common objective. Therefore, each party has to come to agreement about everything from the mission, the sources of revenue, how that money will be spent,
Benavides, L., De Eskinazis, V., & Swan, D. (2012, June 22). Six Steps to successful supply chain collaboration. Supply Chain Quarterly. Retrieved August 30, 2016, from http://www.supplychainquarterly.com/topics/Strategy/20120622-six-steps-to-successful-supply-chain-collarboration
As a part of the team involved in HS2 I am aware of that High Speed Two (HS2) ltd have already adopted an innovative approach to early contractor involvement by introducing design and build consortiums to work together on the ‘scheme’ or tender design as a separate contract in the prelude to the main contract award. This promotes impactful early contractor participation and collaboration and I will not discuss it further. Due to my involvement, I will not discuss how I see that HS2 are being innovative, but instead focus on what my approach would be to help HS2 ltd improve the way they interact with their supply chain.
Collaboration involves working together with others as members of a team with the intention to achieve a common goal. For example, in the nursing profession, the various departments in the health care organizations collaborate to ensure that long and the short term patient outcomes are met within the required time frames. Goals are stated and particular projects introduced to achieve the goals so that the members remain focused on the goals until the objectives are achieved (Carryer, et al 2007). Cooperation involves allowing the mutual actions without any form of obstruction. For example, if an investigation is introduced regarding the particular behavior of the nursing staff, such employees would
According to (OECD, 1996), today’s world economy has been described as “Knowledge-Based Economy” with knowledge being the most crucial resource and learning being the most important process. Therefore, it is essential not only for businesses to encourage innovation and research and development (R&D) in order to compete successfully.
These R&D labs usually concentrated on bringing out new technologies for self-commercialisation. This process can be viewed in the form of a funnel, where a large number of varied ideas and concepts can be trimmed down to few of those concepts and ideas that best meet the requirements of the company. (OECD, 2008) In recent times, companies have become more open with their innovation process, leading to revolution described as “Open Innovation” by Chesbrough (2003). This ‘open innovation’ model is a more dynamic model when compared the traditional model as there is much more interaction between knowledge assets outside the company as well as inside. Henry Chesbrough (2003) in his book “Open Innovation: New Imperative for creating and profiting from technology” defines open innovation as a concept in which companies must use ideas from inside as well as outside sources and find internal and external ways to reach the market in order to advance their technological capabilities. Open innovation combines these 3
A productive supply chain is turning out to be more key achievement component for organizations. Henry Ford sequential construction system was the occasion of mass mechanical generation. Can supply chain management be linked as the new separation for organizations?
The construction market structure and price pressure (as opposed to genuine supply chain waste reduction), have restricted the ability of 3PL’s to play a greater supply chain collaborative role during the downturn. Cost and efficiency reduction decisions have been egocentric at times in attempt for self preservation of an enterprise in the construction supply chain, sometimes resulting in cost saving issues being passed back up the supply chain. This has included moves to little and often deliveries at shorter lead times. 3PL’s have been able to provide collaborative network solutions that share fleet and facilities to reduce the cost impact and capacity flexibility to achieve these changing ordering patterns. Some 3PL’s have delivered a management, optimization and execution role in enterprises, working as a ‘4PL’ or Lead Logistics Partner. However, these roles have tended to provide value mainly to the contracting entity and not the wider construction supply chain.