Question

In today’s fast-paced world, we need beneficial partnerships to encourage creativity, leverage experience and maximise resources that can help to solve at a business solution as quickly as possible. By also looking for partnerships and collaborating externally, organisations are able to innovate much more quickly and even create solutions to problems that may not yet be prevalent or salient issues. What are the reasons behind the success of collaborative research?

Answer 1

In collaborative research there will be technology sharing , knowledge exchange will happen . critical issues can be resolved .In today's fast paced approach togetherness will resolve the issues instead of doing it collaboration and strategic partnerships are important for organization growth and success.

As we can see traditional organization's are merging with start ups .we can see greatest success when opportunity drives collaboration.

Collaboration is the smart decision by organization.it really matters when organization is having lack of resources, capital, infrastructure etc.

Collaboration is just no longer strategy, it's a key factor for business expansion.

Best example for this is : For covid vaccination , many pharma companies are collaborating with medical institutes to meet the urgency and balance the science.

In competitive world fastness results success as it can be achieved through collaboration.