Good points from McKinsey. Is this the ideal time for re-drawing the essential ecosystem?
Ecosystem 2.0: Climbing to the next level
September 11, 2020 |
Ecosystem 2.0: Climbing to the next level By Violet Chung, Miklós Dietz, Istvan Rab, and Zac Townsend
As COVID-19 accelerates customers’ migration to digital, with consumers of all ages going online for everything from food to cars to doctor visits, some companies may feel that the channels, platforms, and approaches they have relied on for years are burning up faster than ever.
The pandemic has magnified a previous trend in which many traditional corporations tried to create or participate in digital ecosystems, only to fall short. These ecosystems consist of interconnected sets of services through which users fulfill a variety of cross-sectoral needs in one integrated experience. Today’s dominant ecosystems were launched by ascendant tech companies, which have used hyperscale platforms to compete with, disintermediate, and often substitute for the offerings of traditional competitors by controlling customer interfaces and control points such as search, advertising, and messaging.
The market understands this power. Most of the companies with the world’s highest market capitalizations are tech companies that generate much of their revenue from the digital ecosystems they created (Exhibit 1). Many of these ecosystems are B2C plays. Others, such as Jabil’s, represent B2B spaces. Some companies tackle both: Amazon, for example, ties together e-commerce, cloud computing, logistics, and consumer electronics, while China’s Tencent provides services including social media, gaming, finance, and cloud computing. ... "
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