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A strategy for the ecosystem economy

Bernard Cohen

Firms which define themselves in opposition to their competitors need strategies for an increasingly collaborative world.

Nokia once had the world mobile-technology market cornered, but made the fatal error of excluding developers who wanted to leverage the Symbian OS to create apps for the phones. Meanwhile, at Apple, Steve Jobs U-turned around the same issue, giving developers the opportunity to build apps for his iPhone as part of a managed ecosystem. Today, Nokia is nowhere; Apple is everywhere.

Digitisation and regulatory reforms are dissolving boundaries between products, services and sectors, revolutionising the way firms serve their customers. Staying in the game means working with partners in other industries and sectors to integrate your offerings, creating wider business ecosystems. 

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Credits:
Source Article: In The Ecosystem Economy, What’s Your Strategy?
Author(s): Michael G Jacobides