What is the importance of collaborative relationships to competition?

The global competition places new significance stress on some crucial principles of business. It means to reduce the timeframes and focuses upon the values of “quality, competitive prices, and innovative products.” Indeed, the aspect of time is a vital feature for an enterprise, and the growth of technology is cutting the product lifecycles and generating better prospects for pioneering goods and commodities. Indeed, the modern companies are unable to launch new products to dominate the markets for many years at the same time as the innovative ideas slowly spread all over the global markets.