From the course: Strategic Partnerships: Ecosystems and Platforms
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Essentials of ecosystem strategy
From the course: Strategic Partnerships: Ecosystems and Platforms
Essentials of ecosystem strategy
- There are four core parts to every ecosystem strategy. The first is, what kind of ecosystem is it? Together with other companies, you will be building a system, whether it's a product or a service. And so this system has to work well together and the pieces have to fit well together. That tells you what kind of ecosystem you'll have. The second part of an ecosystem strategy is whether you're going to use a kind of platform, to get everybody on the same page. This could be a technology platform, where companies write to the same code, if you will. Or it could be a digital platform where you sign on, you log in, and you search for partners and that's the way you do business. So that's the second component of every ecosystem strategy. The third component of every ecosystem is how it creates value. And the way it does that is by what we call network advantages. And the key thing is that as you have a larger and more diverse network, you'll be able to compete better against other…
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