Reasons businesses collaborate!

[PICKFORD]

Business collaborate for a lot of reasons some of which include the purpose of sharing ideas skill knowledge technical know-how in order to achieve a common goal and objective. Collaboration is a very essential feature or characteristics of a good organisation and in an organisation when staff workers or employees who work collaboratively productivity and profit is bound to increase. And in most cases a collaborative organisation is said to outsmart it competitors in the sense that because of it collaborative measure time energy and knowledge consuming tasks or problems are quickly solved and delivered. On the other hand if a business lack collaborative nature In its agenda such a business, company or organisation will be left behind and most of it problems, task will be left unsolved which is absolutely bad if such a business have vision of prosperity and success.
Every team member possesses unique skills, expertise, and talent. When all members work together, they are able to use everyone's experience, knowledge, and skills to achieve the common goal. Not to mention, collaboration speeds up project delivery because employees can combine their strengths and expertise to get things done. A problem that would have taken a single employee weeks to solve may be solved in a few hours by a team because everyone can use their unique skills and perspectives to get things done faster.

 

[Kingsley]

There are somany reasons that makes business to collaborate beyond the issues of financial problems that they might be encountering in business, business comes together to work together to enjoy economics of scale. This is will bring about a more stronger and formidable business output. They come together to Carryout a bigger project that a single business organizations can not do on their own.

When they come together or merge in most cases it is because they are faced with financial crisis so to aviod liquidating they come together and form a stronger business unit that can withstand challenges and they stand to gain alot even from the government.