Wilmington, DE, March 09, 2011 --(PR.com
)-- Traditional business strategy is organized around competition, so we rarely question whether there are alternatives to competing with others in a profit driven environment. A careful examination of nature, however, shows both competitive and cooperative behavior. Members of a species may hunt in packs (cooperation) while also fighting for alpha status within the pack (competition).
Ray Noorda, founder of the networking software company Novell, noticed a similar phenomenon in the business world. He coined the term coopetition to represent this. Business often involves cooperation to create the market (the pie) and competition to divide up the market (one’s slice). Coopetition, a synthesis of the words competition and cooperation, was designed to convey the dynamic relationship between the two concepts.
A good example of coopetition can be found in just about any section of town that has several restaurants concentrated in a relatively small area. From a traditional business perspective, why would one open a restaurant in an area already full of restaurants? However, it is the abundance of places to eat that attracts customers who may visit the area without any specific restaurant in mind. The restaurants cooperate to create the concentration of culinary options and compete to snare customers after they arrive.
There are numerous benefits to coopetition and a large number of success stories. However, there are also potential pitfalls if you are not cautious when embracing this concept. How can you minimize risks and still reap the rewards? This webcast is designed to address some of these concerns.
Most coaching businesses today are comprised of solo practitioners, who are at a particular disadvantage due to the significant number of non-billable hours required to run any coaching firm. A smart business strategy that leverages coopetition could be just the prescription for success. This webcast will begin with a thorough introduction to coopetition, discuss numerous real world examples and finish with ideas for profitably applying the knowledge to the coaching business.
The webcast will be recorded and broadcast on Thursday, March 10th at 12:00 AM, 1:00 PM and 6:00 PM GMT (Greenwich Mean Time). A live online discussion group will follow the webcast. A short preview of the presentation can be found on the Strategy For Coaches YouTube channel (strategyforcoaches).
Strategyforcoaches.com is open to professional coaches or coaches in training regardless of coaching specialty. You must be a member of strategyforcoaches.com to attend this webcast. Interested coaches can request access by clicking the Join Us button on the main page of the website. There is no fee to join or attend any of the quarterly presentations.