If You Want To Succeed, You'd Better Create an Ecosystem. Here's How

When Arthur Tansley, a British botanist, gave a definition of an ecosystem, he probably didn’t think that he would be also describing and predicting a strategic planning model called a business ecosystem. Even though this concept is not new today, as it was first mentioned in a 1993 Harvard Business review article, it is now, in the 21 century, that businesses realise that creating a business ecosystem or being a part of one is what is necessary to succeed. The key catalyst of the development of business ecosystems was technology. Digitization, connectivity, and new models of collaboration have reshaped the core structures of the industrial economy, as many boundaries blur and dissolve.

 

Today, companies are not just members of a single industry, but rather a part of a business ecosystem that crosses a variety of industries. Companies today work cooperatively and competitively to support new products, satisfy customer needs and be a part of the next round of innovations.

Digital collaboration platforms are here to make resources and participants more accessible to each other. Properly designed and structured, they can become powerful catalysts. Those types of platforms are called knowledge networks.

Knowledge networks are here to facilitate:

Aggregation- To connect the users of the platform with relevant resources.

Socialisation- To foster social relationship and interaction among the participants

Mobilisation- To move people to act together and accomplish something that is beyond the capabilities of an individual user.

Learning- To bring participants together to share insights over time and facilitate the learning process.

 
As Nokia's CEO said and we paraphrase "If we want to succeed, we need to either build, catalyze or join an ecosystem". Time is now.
 

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