Collaboration and team work create an environment that allows the collective knowledge, resources and skills of each team member to flourish, according to New Product Development Solutions (NPD). Collaboration is an act executed by an organisation, company or group of people to reach a common goal, which typically takes place on a larger scale than teamwork. Effective collaboration and teamwork require communication technology, definition of responsibilities and an encouraging culture. Teamwork and collaboration are most effective when team members are expressive and open to positive competition. A professional sports team that wins a championship is an example of well-executed teamwork. The benefits of collaboration and teamwork outweigh the productivity of a single individual or company's effort.
Teamwork Increases Productivity
Teamwork requires each team member to work together while allowing their individual interests to become a subordinate concern, according to the NDT Resource Center. As a result, team members focus on the goal at hand and contribute their knowledge, resources and skills to reaching the goal.
Teams work together toward a common goal, which eliminates an independent mindset that may not be in sync with additional staff members. A team environment facilitates the accomplishment of one goal (winning a championship, for example) increasing productivity and efficiency. Team members combine their talent and support each other when attempting to achieve the same result. As a result, productivity is increased because of clearly defined responsibilities distributed among each member.
Collaboration Increases Profitability
Seventy per cent of 300 businesses surveyed reported increased profit because of collaboration in the supply chain industry, according to SME Collaborate. Collaboration is teamwork on a larger scale in that companies collaborate and more than one business may participate in the partnership. Organizations and businesses meet larger goals when collaboration is considered a priority. Consequently, collaboration has several benefits including shared risk, resources and knowledge.
Teamwork and Collaboration Foster Diversity
The very nature of teamwork and collaboration require large groups of people from varying backgrounds to come together and share their experiences. As a result, this environment nurtures diverse opinions, approaches and problem-solving techniques. This level of diversity promotes cultural understanding, increased communication through diverse knowledge of language and a larger group of ideas. Conversely, when a company or group of individuals lack teamwork or collaboration, thinking may stagnate, limiting solutions and ideas.