11/19/2020

Creating A Powerful Ecosystem To Sustain Competitiveness

Source: Fleet Management Weekly

The potential to create value sometimes entails creating a completely new industry, one in which companies that have never interacted before come together. 

Three developments in the global environment are particularly significant in favoring ecosystem strategies: the fact that customers are increasingly demanding solutions and experiences rather than products, the rising knowledge content of many products and business activities, and new opportunities being created by advances in information and communications technologies.

Few ecosystem leaders have succeeded by coming up with a new value proposition internally, designing their ideal ecosystem, and then determinedly trying to build it. Most started with a broad idea of where the potential for new value might lie, and then talked to possible customers or piloted a product, service, or putative platform to engage them.

Read the article at Strategy +Business.