Collaborate: Has this word evolved into the most commonly misused word in Corporate America in 2014?
col•lab•o•rate \kә-‘lab-ә-,rāt\ verb 1 : To work jointly with others or together esp. in an intellectual endeavor or in order to achieve or do something.
Interesting, last week I read two articles from respected sources which expose that global corporations were falling short in their key strategic initiatives due to a lack of collaboration within their walls. For starters, a senior McKinsey & Co. executive interviewed in an article titled Mastering Digital Marketing, stressed that one of the organizational barriers companies were experiencing when stepping their toes into digital marketing was getting people to work together (a.k.a. too many silos!). Subsequently, survey results published by Affinnova, a global technology company, revealed that the current innovative processes at leading CPG companies were broken. In addition to employees not fielding enough market insight, innovation was thwarted because sales teams were not involved in the critical stages of product development (a.k.a. too many silos!). Directly quoting Affinnova’s overall conclusion:
“Having a formal innovation process or structure is not a key factor separating top and bottom-performing companies. Neither is size or revenue. What matters is culture.”