Utilizing Coopetition Strategy in the Carrier Industry: Telecom Depends on It
Every business owner can probably agree that, without analyzing their competitors, they would not be able to enhance or improve their operations. Even in the Telecom community, enduring the silent battle to provide the best services and gain the most clients is inevitable to gaining success. However, carrier companies produce the best results for their customers when they team up with other Cloud partners and agents. In the broad industry of technology solutions, telecom companies can work together in a business strategy that doesn’t reveal their unique aspects. Instead of competition, we suggest putting coopetition at the forefront of your processes.
Coopetition is another term for “cooperative competition.” It’s the collaboration amongst business competitors with the objective of achieving mutual positive outcomes. Using it as a business strategy, companies can devise a plan using analysis to figure out which aspects of working with the competitors will be advantageous. In the model, the goal is to come up with a scenario that will produce an end result that is much more profitable. This coopetition strategy can be applied throughout the telecom community as both business to business and business to customer.
Coopetition can be highly beneficial to carriers across the nation in a variety of ways. Here we highlight the importance of coopetition and how it can positively impact the telecom community.
Coopetition between Carriers and Partners
When carriers partner with other agents, they not only find solutions for the clients, but also for their internal processes. With a broader spectrum of resources, telecom partners can devise strategies that solve business challenges. There is always much to gain from one another as businesses. For example, you could cooperate with competitors by using open source licensing for commodity software, while still guarding the software that creates your business edge from them.
Lauren Koch’s essay, “Coopetition,” on the website StartUpOwl.com, mentions how the formation of the company Care Innovations demonstrates competitive cooperation. It mentions how the combination of Intel’s Digital Health Group and GE Healthcare’s Home Health Division accomplished their goal of changing healthcare models in a way that gives people the confidence to live independently through technology solutions. While telecom companies don’t have to merge as one to accomplish their company goals, working side by side in a competitive environment can put them ahead of the game.
Technology Solutions as Product of Coopetition
Whether it is encryption, collocated hosting or data recovery services in Philadelphia, your customers need technology solutions to advance their competition. Through an agent program, businesses can partner with their competitors while keeping their data and platforms safe. The key to coopetition is to collaborate services without giving away what makes the business strategy effective. Increases in revenue and fast turnaround times in productivity are achievable using technology solutions as a security measure, combined with a coopetition business strategy.
**Upcoming Event: The Fall Technology Forum**
Save the date for our Fall Technology Forum, which will utilize the coopetition model. We will have a panel of top carriers and providers as well as introduce scenarios where coopetition will benefit our top-performing partner community and their clients. View our flier below for further details.