Question

4. Discuss the elements of a coopetition business model in terms of a college. Address the complexity, risks, and paradoxes involved in this situation. How can interpersonal, intercollegiate, and intra-departmental coopetition benefit any institution?

Answer 1

Competition business model is a theoretical framework which works on the basis of providing an overview of the competition which exists in the business external environment in the industry. It talks about various risks, benefits and strategies used alltogether that helps a company to grow and perform better.

Comepetition existing among the colleges for their customers ie the students are in a very large amount. Risk factor associated with the same are the substitutes provided, having the right human resource, large cost investment, strategic abilities and utilities provided to make the college stand different from the competitior's etc. The level of complexitity is also mild for the business model of a college strategy. You can have various types of courses offered and techniques which makes your college a better option than others. You have to sustain in the industry in such a manner where your costs are being reduced to large and profits are highest also with a goodwill. This process is quite complex. The examples of paradoxes found within the same are the fact that colleges think having a higher fees and making the students learn would make them get attracted towards the college. Apart from the extrinsic factors of what you are making your college look, intrinsic factors of motivation also plays a major role in retaining your student or customer to be a part of your college and thus gives you an edge over your competitior. You have to essentially understand the needs and wants of people.

Interpersonal, intercollegiate and intra department helps a college to grow and become a better institute than ever because of the following factors:

1. Development of skills: By establishing such competition inter and intra colleges, one can effectively achieve a development of essential skills and competencies within the students. They can learn to take decisions, how to manage tasks and how to work effectively and efficienctly thus making the institute's people to grow as well and be a part of strategic competition.

2. Goodwill: The essence of team and other co related activities help the institute to establish a goodwill in the market. Nobody likes to be a part of an institute where no competition takes place. Thus, being a part of college where various competition makes a person grow better helps to establish goodwill in the market.

3. Competition makes us grow: At last, the level of competition makes an institute grow into a better one. It helps the institute to understand the meaning of competition, the meaning of team work, winning losing etc to make the employees as well as the students come off as better individuals.