Collaborative Strategy (retail) – Coursework Example
The use of collaborative strategies can increase the efficiency and productivity of an organization. Collaborative strategies can be implemented internally or externally. A marketing alliance is an example of an external collaborative strategy. Another collaborative strategy is to form purchase cooperatives in which two or more retailers purchase inventory together in order to achieve economies of scale. There are also many internal collaborative strategies that companies can implement. Four collaboration strategies are getting your house in order, developing a strategy for collaborative innovation, conducting joint business planning and building trusting relationship (Young, 2010). Retailers can also use teamwork among the employees as a collaborative strategy that can help improve the customer service of the company. Training and development in collaborative strategies is a good investment to increase the value of the human capital of a company.
“Collaboration involves recognition that something is wrong and needs attention through problem solving” (Schermerhorn, Hunt, Osborn, 2003, pg. 387). The use of collaboration is a technique that can be used to resolve a conflict resulting in a win-win resolution. When employees collaborate with each other teamwork among the workers improves. For collaboration to work the lines of communication between the managerial staff and the floor employees must be open at all times. Retailers should cooperate with the customers in order to improve their satisfaction. A good policy to reward hard work among the employees is to offer educational incentives that pay for college courses. A new and hot trend among sales people, managerial staff, and other professionals in the retail industry is web collaboration.
Schermerhorn, J., Hunt, J., Osborn, R. (2003). Organizational Behavior (8th ed.). New York: John Wiley & Sons.
Young, G. (2010). Collaborative Information: How to Partner for Profit With Retailers. Retrieved February 16, 2012 from http://www.foodmanufacturing.com/articles/2010/03/collaborative-innovation-how-partner-profit-retailers