Four Benefits of Collaboration in Business

841 Words3 Pages
The bottom line of a business is the ultimate goal which is to gain profit and as such businesses have to develop strategies achieve this. One such strategy is collaboration which includes the people and culture of the organization along with process and governance and technology. Setting a collaboration vision gives the business a competitive edge which will drive the business performance. Four benefits that can be derived from collaboration are reduction in cost, enhancing the qualities of deliverables, product delivery may be increased through better decision making. Collaboration can also help the company to revamp their business processes and create new ones in an effort to differentiate it, (Liu, 2010). In an effort to stay on top of the game companies are now looking into gamification. (Palmer, 2012), gamification is when businesses use the principles of games to gain or maintain a competitive edge through talent management, business performance and customer loyalty. This is done by using all the fun, play and passion involved in games and integrating into real life situations such as office tasks, training sessions as well as career counseling. Companies can gain many benefits from implementing this strategy. Firstly, there is engagement, through gamification the business can get all the stakeholders of the business involved fervently and intentionally involved in the organization. Secondly, the use of games not only improves collaboration but involves
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