Capturing the ecosystem opportunity
Companies recognize the need to implement new business models to address, or even lead disruption. According to Accenture Strategy research, 60 percent of executives say ecosystems are the way to do it.
Businesses can use ecosystems to make strong market plays that drive disruptive growth. The opportunity is staggering.
However, few businesses have fully capitalized on the opportunity, claiming the role of “ecosystem expert.”
Many ecosystems currently don’t live up to their potential. A third of U.S executive respondents target revenue growth of 5 percent or more with their ecosystem plays. Only one in seven achieve this growth.
What are the three things ecosystem experts are getting right?
1. Data Collaboration—Experts see a win, not a weakness
Ecosystem experts have figured out how to best share data with their partners. Non-experts, on the other hand, tend to share too little. Ecosystem experts do a better job of integrating with others in the ecosystem—marrying and expanding their data set with partners to enhance analytics and achieve better insights. Virtually all experts (97 percent) describe themselves as data-driven companies.
Ecosystem experts have a comprehensive data strategy and management plan. A vast number of experts (77 percent) share data with some restrictions within the ecosystem. More control means less risk.
2. Talent Pooling—Experts tap into a deeper, broader range of resources
Experts pull the “best of” the ecosystem, tapping into talent pools within and outside of the enterprise to access complementary skills and capabilities. They look to combine and grow talent across organizations when building their ecosystem.
When the ecosystem shares talent, it speeds access to experience and differentiated capabilities. Talent sharing also opens the door to a deeper and wider talent pool that brings a level of hyper-diversity. Workers from different backgrounds and companies, with a variety of skills, can work together on achieving outcomes. Ecosystem experts are also willing to lift and shift talent to other organizations within the ecosystem. Businesses benefit as employees learn new methodologies or skills and then bring them back to their company.
3. Platform Co-development—Experts build a launch pad for value
Platforms are the lifeblood that enables ecosystem partnerships to easily collaborate and thrive—and they cannot be created alone. Successful platforms start with a smart foundation to build partner interest and investment, accelerating adoption and expansion.
Ecosystems experts (64 percent) recognize the importance of choosing the right technology platform to support the ecosystem, compared to 36 percent of non-experts. Experts also look for a technology partner that is going to be a collaborative player in creating the platform.
Joint development of a platform requires an open, collaborative mindset among all participants. The platform should meet the needs of the collective entity. Trust, comfort, commitment and confidence are essential ingredients to creating a mutually beneficial platform.
Mastery of the ecosystem culture
The most successful in the ecosystem are those companies who embrace an ecosystem culture. Only then are they able to manage strategic, systematic and programmatic collaboration across the key capabilities that enable an ecosystem—data sharing, talent pooling and building the platform.
Learn from the ecosystem experts and pursue bolder approaches to seizing the ecosystem opportunity:
Ecosystems are here to stay. There are experts seizing the opportunity, and non-experts who are missing out on the full potential of ecosystems. Which will you be?