How You Must Change Your Strategic Approach Given Emerging Ecosystems
The evolution of strategic advantage has changed from tracks to pipes and now to platforms. In the old old days, the people that made all the real money didn’t own the railcars or the goods; they owned the tracks those cars traveled on. In the more recent old days, the people that made all the money didn’t own the websites; they owned the pipes that transmitted the data. Now we’re moving to ecosystems where the people that make all the money are going to be the owners of the platforms on which the ecosystems thrive.
- Accept that however your business is structured today is already out of date. You only exist, can only survive and thrive as part of your ever-evolving ecosystem.
- Give up control of your old-school assets. They are now anchors.
- Focus on building and managing the platform on which your industry’s ecosystem operates – and especially on the digital connections between the various players.