The Collaboration Economy by Eric Lowitt - Book review

The Collaboration Economy

How to Meet Business, Social, and Environmental Needs and Gain Competitive Advantage

By: Eric Lowitt

Published: April 22, 2013
Format: Hardcover, 256 pages
ISBN-10: 111853834X
ISBN-13: 978-1118538340
Publisher: Jossey-Bass










"So the purpose of The Collaboration Economy is to both entice and equip entities throughout the private, public, and civil sectors to work collaboratively in order to heal our systems to day for an ensured future for generations in perpetuity", writes globally recognized expert in the fields of competitive strategy, growth, and sustainability, Eric Lowitt, in his visionary and alternative idea packed book The Collaboration Economy: How to Meet Business, Social, and Environmental Needs and Gain Competitive Advantage. The author describes how the current economic model, based on competition and unsustainable environmental practices and exploitation of people, is broken and must be replaced by a more collaborative economic and humane worldview.

Eric Lowitt recognizes that the profit motive and the capitalist system will continue to exist and operate. What the author proposes are improvements and fresh approaches to making profit within a capitalist framework. Faced with governments both unwilling and unable to spend more money, the onus is on both the private and social sectors to work together with the public sector to ensure environmental sustainability, social justice, and economic prosperity that benefits everyone. Eric Lowitt presents a viable, alternative solution to meet the challenges of the present and the future, in the form of the collaborative economy.

Eric Lowitt (photo left) understands that there are critical changes on the immediate horizon for the private sector. These changes will come from pressures from stakeholders and the community at large. Companies will no longer be able to externalize costs, and force them onto the environment and the people and communities they affect. Instead, those costs will be internalized and to reduce those new costs, the author points to collaboration with other members of the public, private, and social sectors as the solution.

Eric Lowitt points out that not only are the changes taking place in society and in business practice, leading to a more collaborative economy, but that any business that fails to embrace this new paradigm will be left behind. The author presents the principles and practices of the collaboration economy on three overarching sections as follows:

* Welcome to the collaboration economy
* Bringing the collaboration economy to life and scale
* Putting it all together to move forward

For me, the power of the book is how Eric Lowitt presents the principles and dynamics that are leading to the development of the collaborative economy, with the practical steps the private, public and social sectors must take to make the transition a smooth and effective one for all stakeholders. The author, and the guest contributors, share the stories of leading companies who have embraced the concept of collaboration, and the necessity of sustainability and societal well being and have incorporated these principles into their overall business strategy.

Eric Lowitt provides important insights into how companies, regardless of their size or market strength, are subject to forces outside of their control. In the modern economy, the old rules no longer apply, and companies that fail to understand these new and emerging realities will face irrelevance. Not only will these companies lose market share, but risk losing shareholders and shareholder value. As the author makes clear, doing the right thing, and forming collaborative relationships, is also good business.

I highly recommend the empowering and fresh paradigm based book The Collaboration Economy: How to Meet Business, Social, and Environmental Needs and Gain Competitive Advantage by Eric Lowitt, to any business leaders, nonprofit executives, environmental and social activists, government policy makers, elected officials, and anyone who seeks a clear and concise vision for the future of a more collaborative and cooperative economy. The future and is one of collaboration, and this book offers a strong call to action for everyone to embrace this important new reality.