Profiting from Collaboration (Enhanced DVD)

Collaboration can lead to big profits for businesses large and small. This documentary investigates the collaboration strategies and practices that lead to profit for the businesses which employ them. One of the first things businesses must look at is risk management by using trust and contracts to mitigate and absorb any risks. According to Tom Freston, former CEO of Viacom, success in collaboration hinges on negotiating a deal that reflects the value of each participant and rewards them accordingly. These collaborative strategies are not only being used by businesses but cities with limited resources, such as Dubai. The UAE financial empire has utilized its knowledge of foreign countries and cultures to forge collaborative relationships with a number of financial entities which have led to very lucrative ventures for the city and the citizens alike. Other collaborative strategies include being consumer-centric and focusing on exceeding their expectations, investing in collaboration, using the Internet to conduct market research, and moving beyond the walls of the business to include others with collaborative and creative skills. Companies such as Best Buy and Rolls Royce have focused on customer collaboration and serving the customers' needs. On the other hand, companies such as Snag Films and Netflix have turned to the Internet for successful collaboration and research. Each of the companies in this program have tapped into the fiscal possibilities of collaboration in a variety of ways, bringing success and increased profits. The basic idea of collaboration means taking acceptable risks, establishing trust and mutual respects, and creating a symbiotic relationship that profits all involved. 

Length: 46 minutes

Item#: BVL47307

Producer: CNBC

Copyright date: ©2010