From the course: Strategic Partnerships: Ecosystems and Platforms

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Five key questions in every ecosystem strategy

Five key questions in every ecosystem strategy

From the course: Strategic Partnerships: Ecosystems and Platforms

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Five key questions in every ecosystem strategy

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- You're considering creating an ecosystem as part of your business strategy. What are the key questions you need to ask? There are five key questions for every ecosystem. The first is, why do you need partners to begin with? Multiple partners. How do they add value? And here you need to think about, what are the components that are being brought in to the game? What are the markets that are being served? Or what are the complementarities in a way that need to be set up so that this ecosystem will be productive? The second question is, who should be in your ecosystem? So when you have categories of players that you want, you still need to decide exactly which player or which partner you're going to sign on. That means, taking care of due diligence to figure out what they're about, what assets they bring, and then how you could work with them in the ecosystem. The third question you need to ask, is how are you going to organize and structure this ecosystem? It's not going to work by…

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