Collaborative Business: The Game Changer inthe Global Economy
The idea of CNs/VEs is not new and has been used in several industry sectors for many years. But the need has only increased due to Globalization of the economy.
Collaboration is the name of the game when it comes to successful research and development in all business functions to meet and anticipate customers' needs. "We want to get closer to customer; we want to do things so the customers don't go anywhere else". "We can't afford an R&D department although we want to be innovative and known for innovations in our businesses .We are excellent in few business functions but lackinnovations. Is it necessary to be involved in all business functions? Microsoft one of the most successful organizations does R&D in USA, software development in India and Manufacturing in China and sells through various agents throughout world. Had they been managing all the functions they would be burning all the energies it and may have lacked in innovations. Another Classical example of collaborative success is joint production of Bramhos by India and Russia. Both (above) are examples of success stories due to collaboration, in both of the above cases results wouldn't necessary have been same if they wouldn't be in collaborative business. This Paper focuses on need and importance of international collaborations within governments and within Businesses in the Era of Global economy.
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