AN EXAMINATION OF THE COMMON PRACTICES IN THE CURRENT GLOBAL ECONOMIC ENVIRONMENT, EMPHASISING HOW RIVAL FIRMS COLLABORATE TO IMPROVE THEIR CHANCES OF ACHIEVING SUCCESS.

Abstract

In light of the present state of the worldwide economy, this research looked at the manner in which competing businesses have been collaborating to increase the probability of achievement. This study looked at the idea of coopetition and how it affected organisational strategy. In this model, rivals would act cooperatively or aggressively based on the situation. Exploring the correlations amongst the variables was done employing a quantitative study approach. Survey data was analysed via descriptive statistics, odds ratios, and confidence intervals. An analysis of 778 valid replies shed light on the dynamics of firm-to-firm collaboration methods. Lower expenses, increased inventiveness, and wider commercial accessibility were common outcomes of opposing enterprises cooperating, according to the study. When faced with technical upheavals, worldwide rivalry, and ever-shifting customer expectations, businesses that worked together effectively fared significantly. Partnerships, pooled investigation, and collaborative use of resources were shown to have a substantial impact on sectors including manufacture, IT, and medicines, according to the investigation. Notwithstanding the obvious benefits, there were still obstacles, such as trust difficulties, IP worries, and the lack of defined administration mechanisms. Based on the findings, coopetition is now an essential organisational strategy that helps companies stay resilient, be more competitive and follow the latest developments in technological advancement and sustainable. Researchers now have a better grasp of whether competing businesses use a mix of rivalry and collaboration to their advantage thanks to this study. To improve the chances of lasting prosperity in linked marketplaces, it stressed the need of confidence, common objectives, and good administration when forming beneficial partnerships.