The COVID 19 pandemic seems to have thrown up paradoxes. On one hand is the joint resolution to fight the virus as one and there is confidence that we will eventually win together. Yet, on the other is the lament about the economy going south post COVID. I find it strange that the same set of leaders – in political & corporate world do not seem to have the confidence that collectively, we can revive the economy at a faster pace than anticipated. The root cause is perhaps our mindset of competition.
The banter between airlines today, where they gave the message of staying safe through humour & bantered using the tag lines of each other, was a sign of collaboration & bonding to fight the common enemy. One wonders, if whether post COVID, they will collaborate to bring the aviation industry out of the woods or will they compete as in the past to grab their share of the pie in the sky?
On a larger scale, if all industries see the post COVID situation to change the paradigm of competition to collaboration to accelerate the growth of their & related industry, chances are that the economy will revive faster than anticipated and Indian industry will become a benchmark for the world.
Competition is necessary in normal times for the industry to grow & consumers to benefit. Yet, in times like these, collaboration may prove to be a better bet – leveraging the collective knowledge and wisdom to find solutions to the common challenges that plague the industry. All it requires is for the leaders of all or key corporates in a given industry to come together and find joint solutions. The wisdom is all there. For example, if the auto & auto ancillary industry stalwarts were to collaborate, they are likely to grow together rather than one growing at the expense of the other. It will call for a fair degree of courage & sharing to do this. Leaders who are willing to think differently are likely to create history. And facilitation of such conversations to arrive at joint solutions can be an effective way of helping realize the new paradigm.
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