A consortium is an association of two or more individuals, companies, organizations or governments or any combination of these entities with the objective of participating in a common activity or pooling their resources for achieving a common goal. While consortiums tend to share resources, they act independently when it comes to day-to-day operations. Every entity that is under the consortium, therefore, remains independent with regard to their normal business operations and has no say over another member’s operations that are not related to the consortium.
Governments and private enterprises often collaborate to formulate standards for manufacturing, food production, product compatibility, consumer safety, and more. In such collaborations, a government leverages its buying power as a consumer to create standards.

Take a look at the top expected benefits of consortia by organizations, 2019:

• Cost savings is ranked as the top benefit by surveyed organizations of consortia with a rate of 57%.
• Accelerating learning is ranked as the second top expected benefit of consortia by surveyed organizations with a rate of 55%.
• Sharing risk comes next as a benefit expected by surveyed organizations from consortia with a rate of 47%.
• Building a critical mass adoption also listed as an expected benefit by organizations from consortia with a rate of 45%.
• Maintaining relevance/life span is also ranked as an expected benefit from consortia by surveyed organizations with a rate of 42%.

A Figure Shows The Benefits That Organizations Expect From Consortia, 2019.