Monday, June 22, 2020

Ecosystem Planning and Expansion

Digital businesses today are not just working within the industry, they are, in fact, permeating a cross-ecosystem which keeps expanding. 

With the exponential growth of information and emerging digital enterprise platforms and collaboration tools, everything is interconnected and the business ecosystem becomes more interdependent and dynamic than ever. The digital ecosystem expands when the business territories blur and the organizational communities broaden their scope and consume all sorts of resources.

Forward-looking organizations deliberately plan and grow their ecosystem with the goal to improve business maturity and maximize their potential.

Broaden the digital ecosystems and create new revenue streams while becoming more responsive: The high mature digital organization is fluid, boundaryless, also complex, it becomes complex if things do interact, particularly in the case of nonlinear interactions in the ever-expansive digital ecosystem, Understanding the organization via an ecosystem lens makes it possible to allow the organization to explore digital in all directions and broaden their ecosystem influence.

To improve organizational maturity, it is important to have a good understanding of current and future capabilities as well as their impact on implementing the strategic business goals and creating new revenue streams. In today’s information-driven business dynamic, it is full of opportunities and risks, and there’s no shortage of problems to tackle. It's about being able to get all the way to the task, to see it from all interests, experimenting, exploring, learning the lessons, and creating “the art of possibilities.” Overall speaking, the good businesses will always be seeking and embracing the influences beyond their own company, and the great company can ride learning curves and expand their ecosystem via deliberate planning.

Proactively look for ecosystem partners and co-solve business problems proactively: Digital transformation implies the full-scale changes in the way the business is conducted so that simply adopting new digital technology isn’t insufficient. Organizations can manage a mixed bag of diversified vendors and multifaceted partnerships via interrelations, interactions, or inter-relational interactions. High mature organizations can scale up their change or innovation efforts, treat customers, channel partners, suppliers, and industry ecosystem participants as active agents to deal with complex problems collaboratively and harmonize organizational maturity.

With blurred lines of companies, geographical territories, and industries, the dynamic ecosystem explicitly seeks to create an environment in which people can grow, and businesses focus on dynamic resources, long-term perspectives, scalable performance, and modular capabilities. Instead of being rigidly grouped around a specific function or business, ecosystems draw together mutually supportive companies from multiple industries that collectively seek to create differentiated ideas, co-manage innovation, and capture values they could not reach alone. Actually “coorpetition” is the new normal. Sometimes organizations are competitors to take the market shares in the same geographical territories, but they partner to co-solve common challenges in the industry as well.

Expand and amplify its influence with the ability to co-create and scale up the best and next practices in the digital ecosystem: To effectively respond to the digital dynamics, companies must begin thinking about ways with strategic planning to broaden their ecosystems and amplify their influences while becoming more responsive and scalable. Leading organizations plan and nurture their ecosystem and reach the inflection point to accelerate and adjust the turning potion to make the breakthrough. For those lagging organizations, the ecosystems have evolved without much attention or planning.

Business transformation and innovation efforts can be scaled up, to solve bigger and tougher problems, and their effects can be amplified to touch more people, businesses, industries, and societies. Organizations arise when the scale of collective capabilities and performance surpasses the individual’s capacity to be able to do whatever it does with smaller scales. It can create the synergy for desirable emergent property under the high-mature digital ecosystem via active participation, relationship building, and communication enforcement.

Digital businesses today are not just working within the industry, they are, in fact, permeating a cross-ecosystem which keeps expanding. The real challenge is to understand where and how you can and should improve to get the biggest effect and scale-up across the digital ecosystem effortlessly. High mature digital organizations are able to continually change as the world changes and evolves with an intersecting and interacting business ecosystem seamlessly.


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