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for chamber businesses.
"It's not a simple concept to get your
mind around. But the idea grew on me,"
says Clark. "Suddenly I started seeing
coopetition opportunities everywhere."
The idea has gained traction over
the years in many industries. The
most recent real-world example is the
agreement in March 2020 between
Pfizer and BioNTech to jointly develop
a COVID-19 vaccine, resulting in
hundreds of millions of doses getting to
market in 2021.
Tech firms have embraced the
coopetition model, since it's common
in that industry for two competitors
to form strategic alliances or share
resources for common goals.
It's a business relationship for the
21st century that is shaking up the old
rules of competition.
The idea itself isn't new. It was
brought to the forefront by professors
from Harvard and Yale, Adam M.
Brandenburger and Barry J. Nalebuf,
who wrote a book on the topic in the
1990s. They followed up with an article
in the Harvard Business Review in
January of last year.
The idea, and that article, first
bubbled up in a conversation between
Fayetteville Chamber President Steve
Clark and Dr. David Williams, former
director of the Ozark Guidance Center.
Dr. Williams was enthused about the
new business model and its implications
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