As companies increasingly integrate their core business functionalities with third parties and their platforms, forward-thinking leaders leverage these relationships to build their role in new digital ecosystems. As they do, they’re designing future value chains that will transform their businesses, products, and even the market itself.
These ecosystem decisions will continue to redefine businesses in shifting industries. Who will your company be in 10 years? The answer depends on choices being made today.
Lead with Platforms
As companies look to expand into the next generation of digital ecosystems, some are building platforms themselves and creating new ecosystems with their business at the center. But not every company needs to be the platform provider.
An explosion of collaborative ventures between industry leaders is on the horizon. #TechVision2017
Many organizations will leverage existing platforms as their means to enter new ecosystems. Still, regardless of whether they are providers of platforms or participants in others’ offerings, all companies will have to excel at leveraging the strength of platforms in their ecosystem to maximize their success in the digital economy.
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Every company needs an ecosystem strategy to move forward, one that prepares them for a future where they are not involved in just a single ecosystem, but many.
How a company selects and fosters the right business ecosystems for its business goals will define prospects for the future. Competitive advantage depends on the strength of the chosen partners and ecosystems, and the plans to help them grow.
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An ecosystem strategy is key to unlocking the next waves of unprecedented growth in the digital economy. Find out how to move beyond platforms in our trend report.