It’s not too often that Sun Tzu and Al Pacino in “The Godfather” give the same advice. This adage is a wise business strategy: Keep track not only what your business partners are doing but what your competitors are involved in as well. Many companies use winning and losing as a scorecard in their business. However, sometimes working together with a competitor is the best way to achieve a common business goal.
Adam Brandenburger called this “co-optition.”
Bill Gates has purportedly referred to it as “sometimes the lambs have to lie down with the wolves.” In fact, most businesses practice some form of cooperation with their competitors. Your company winning doesn’t mean that your competitor always loses. Conversely, when you fail, it doesn’t mean that you totally lose. Continue reading