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From Firms To Ecosystems
The Smart Manager
|July - August 2018
In a VUCA world, where value is created and destroyed in surprising ways in every industry, many organizations respond by investing in new technologies only to keep up with the competition. Ralph Welborn, co-author of Topple—The End of the Firm-Based Strategy and Rise of New Models for Explosive Growth argues that what has made businesses effective today will not work tomorrow. He proposes that individuals (or organizations) need to answer the ‘new strategic question’ and understand its implications on what they do, how they do it, and with whom they do it so they can identify and capture new sources of value.
Your book proposes that the new competitive landscape will be shaped less by firm-specific strategies and more by new business models,powered by ecosystem-centric strategies...
Here is what is evident: fewer than 15 per cent of firms realize approximately 85 per cent of economic profit in just about every industry. Much talk is made of the usual culprits here—Facebook, Amazon, Netflix, and Google, but there are others too—Tencent, Tesla, Applied Materials, Microsoft, or any number of other companies. Besides capturing a disproportionate amount of economic profit, these and others are the explosive growth models to learn from. While different in size, industry, and geography, many of them share a commonality that begins to highlight a stark difference between the growth models of yesterday and those of tomorrow.
The difference? They share an ecosystem-centric strategy. But how did they come to this? Simply, they realized that a new competitive landscape required asking, and answering, new strategic questions: where is value being created and destroyed in the ecosystem and value chains in which you are engaged? What role do you play within it? With what set of (new) capabilities to do so?
And here it gets particularly compelling.
How can organizations take advantage of business ecosystem so that they can identify and capture new sources of value in new ways? It requires four steps:
ask (and answer) the new strategic questions
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