Excerpted from Forbes.
Depending on the nature of the crisis, some companies have put their rivalries aside and worked together to address the situation. That was the case when Uber and Lyft announced in 2021 that they had joined forces to help ban drivers who were accused of sexual assault from working for the two ride-hailing companies.
There can be advantages and benefits for companies that collaborate to address a crisis.
Pooling or sharing their expertise and resources can help ensure that a crisis is addressed as effectively, efficiently, and strategically as possible.
Coordination can ensure the companies are not sending the public mixed messages or the wrong information about the crisis.
Businesses that work together can strengthen their brands and reputations by showing that they can put their rivalry aside and work together for the good of the public.
Don't Wait. Competitors should not wait until there is a crisis to figure out how to work together when the crisis strikes.
“Like any good crisis communication response, competitor outreach should be planned well in advance. A pre-established communication network, company agreement or industry association can be a vehicle for information sharing and brainstorming,” Cheryl Fenelle Dixon, an adjunct professor at Columbia University and principal of Perfectly Clear Communications, said via email.
“Companies should alert competitors when there is a threat to the industry as a whole or shared challenge such as a tainted ingredient or issue with a manufacturer that serves multiple companies in an industry,” she counseled.
Full article here: https://www.forbes.com/sites/edwardsegal/2023/11/22/how-and-why-competing-companies-work-together-to-tackle-a-crisis/?sh=37353ac44ab9