I enjoy cooking, but I confess that I lack both talent and experience. My mother provided me with a few recipes and I gave them a shot. The results were edible, but the dishes took me hours to cook and were not nearly as tasty as when my mom prepares them. I prefer to let mom do all of the cooking. The food ends up being delicious and I don’t have to break my back for a mediocre dish.
Perhaps sticking to one’s expertise is something we can improve on. Perhaps there are opportunities out there for innovation by sticking to what we do best and collaborating with experts that stick to what they do best. For example, Coca Cola makes beverages; it is what they do best. That is why Coca Cola reached out for help with creating an automated beverage dispenser. The collaborating party? A medical equipment manufacturer that specializes in micro-dose technology used for precision pouring of dialysis and cancer drugs. The outcome? A fruitful relationship that provided both parties the opportunity to capitalize on their respective competencies.
Sure, Ingersoll Rand’s products are nothing like Diet Coke and Sprite. But surely there are untapped opportunities for collaboration. Certainly there are companies that provide technologies that can enhance our offerings and provide market busting solutions. Can you think of any companies or types of technologies that are ripe for collaboration? Are there areas in which we are stretching ourselves and could benefit from collaborating with experts? Are there untapped markets awaiting a single technological development for our entry? What do you think?



