Co-opetition

How often have you been in the presence of your competitors? Whether it is at a trade show or networking event or in a lobby awaiting an interview, we've all been around those we are competing with.

What should you do?

How about make friends and be courteous? Flys and honey and all that aside, it's the best thing to do. Sure, you won't divulge competitive-sensitive information, but you can have a polite conversation. It might teach you something about them, their motives and--you.

The latest version of this phenomenon I witnessed was with a group of marketing managers for credit unions. These folks are all competing for similar business and clients, yet they are will to set aside their differences for 2 hours a month to talk over ideas and learn new ones.

My personal experience is from my Honeywell days as a trade show manager. I made friends with the TSM of our biggest competitor, Johnson Controls. I still am in touch with Keith Tomaszewski as he is a great souce of knowledge about the trade show industry and the controls business.

I realize this is also the title of a book by Adam Brandenburger and Barry Nalebuff, but the term works well with a lot of industries and situations.

Relentless

Adam M. Brandenburger, of the Harvard Business School, and Barry J. Nalebuff, Yale School of Management, published "Co-opetition" in 1996 with Doubleday.