Ecosystems in our business thinking have suddenly become of age, they can enable cross-cutting innovation to be delivered in highly collaborative and dynamic ways. Understanding the value of working within an ecosystem is becoming critical to understand.
Ecosystems can offer, through collaborating on a shared platform, closer relationship with cross-industry partners and more importantly, the final customer.
Sharing, exchanging and deepening the understanding of different needs and experience through increased collaboration, and engagement opens up innovation to a whole new dimension of more radical innovation. We are seeing a shift in innovation cooperation with this ecosystem design approach and we are all working through the implications of this from a process, structure, architecture and design point of view. It changes our internal perspectives and opens these up to a diverse external influx of knowledge and different understanding.
The more we are connecting and collaborating, seeking out joint opportunities for business, there is this realization that there lies a really powerful network effect for value-adding in participating in these ecosystems, for finding and sharing in new economic opportunity. This calls for some radical rethinking of the existing business and deciding the design of the future business. Continue reading