Co-opetition: This was a word invented by Edward de Bono, that described co-operation between competitors. This is a feature of the Connected World.
A small story caught my eye this past week. Recently, two employees of Coca-Cola (at head office in the USA) were busted trying to sneak out secrets, especially the recipe for a new Coke flavour. They got caught because the person they were trying to sell the secrets to contacted Coca-Cola and tipped them off.
Who was this honest person? It was Pepsi Cola Company. Whether or not Pepsi actually saw the recipe before telling Coca-Cola is a moot point. The bottom line is that in pretty much every industry in the world, the competitors are watching each other so closely that the competition is NOT based on WHAT they sell, but rather on WHO they are. That’s why this kind of action is so important. It goes to who you are.
Well done Pepsi!
Co-opetition
