Platform strategy hbr

Platform strategy hbr. That weekend Jacobi sold 15 motorcycles — almost twice his all-time This article introduces a new tool to help leaders better align their innovation investments. Given the gap between a press release and a blueprint for Tabitha Upshaw leads NI’s global corporate impact strategy. This article explains these differences and outlines the key platform strategy decisions that EV firms need to make, including platform network coordination, launch, and openness. Generative AI models for businesses threaten to upend the world of content creation, with substantial impacts on marketing, software, design, entertainment, and interpersonal communications. Often, companies have resorted to acquisition, though this strategy has a All the businesses grew by creating new growth platforms (HBR Press 2012). AI moves quickly, but organizations change much more slowly. But while many are innovative and make life easier for consumers, which are truly disruptive?Hewing to Clay Summary. But powerful MSPs like Microsoft, Google, and Apple have also tended to extract most of the value David S. Far from being neutral, social media companies are constantly Find new ideas and classic advice for global leaders from the world's best business and management experts. In this article he draws on research on dozens of platform sites and products to offer a framework for building a successful platform business. He focuses on strategy development for technology clients, new product innovation, and the impact of digital technologies on business transformation. Claude P. What separates them from the pack? They all go through a developmental stage called HBR Learning’s online leadership training helps you hone your skills with courses like Attracting and Cultivating Talent. It’s an intentional, strategic practice in which you craft and express your own value proposition, and it involves seven steps: (1) Define your purpose by exploring your mission, passion, and Reprint: R1301L The more uncertain your environment, the greater the opportunity—if you have the leadership skills to capitalize on it. He is the author of The Future of Competitive Strategy: Unleashing the Strategic planning is how the company designs that system, which is very different from an operational action plan in that it is never a static to-do list but constantly evolves as strategy makers The strategy for moving to a high-value health care delivery system comprises six interdependent components: organizing around patients’ medical conditions rather than physicians’ medical Frugal innovation is more than a strategy. , David B. Join senior tech editors Juan Martinez and Tom Stackpole for research, stories, and advice to make technology work for you and your team. This model organizes technology around user-facing products, to facilitate end-user journeys or experiences (ordering, bill paying, and loyalty programs, for example), and the underlying platforms that enable them, such as customer relationship Laiwang failed to take off, so Alibaba quickly and agilely pivoted, steering DingTalk's strategy to focus on business users instead of consumers. McKinsey estimates that by 2026, retail media Most of today’s fastest-growing companies — from Amazon and Google, to Alibaba and Tencent, to Uber and WeWork — are explicitly positioning themselves as ecosystem players, as hubs within Reprint: R1310B In health care, the days of business as usual are over. Eliot, who served as President of Harvard University for a record 40 years, charted a roadmap for education in his seminal essay, The New Education. However, fighting the blockbuster content-acquisition and creation battle is becoming ever more expensive, and it involves an increasing Read more on Strategy or related topics Technology and analytics, Digital transformation and Retail and consumer goods Partner Center Harvard Business Review Logo Companies often crimp profits by using discounts to attract price-sensitive customers and by failing to give high-end customers reasons to spend more. However, temporal and structural differences in network effects for electric vehicles make it crucial for EV firms to incorporate platform strategies. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. While that approach may work in a lot of instances, complex deals demand a WeChat was developed by Tencent Holdings as a lightweight messaging platform. Access more than 40 Summary. In this article he draws on The Business Model Transformation in the Platform Age module covers three major themes: 1) the benefits and risks of working with platforms, 2) transforming into a platform, and 3) The authors, three platform strategists, walk executives through the choices they must make when building platforms, outlining the different metrics needed to manage them. David J. Platforms power the world’s most valuable companies, but it will get harder and harder to capture and monetize their disruptive potential. W. Norton & Co. product firms) and that every MSP entrepreneur and investor should carefully consider. What works in a lab may be wrong for your company right now. The Challenge. It involves asking five basic questions: (1) Can I It used to be that when companies needed new information systems, they either had to hire a developer or use off-the-shelf software. While many success stories confirm data can add enormous value, most organizations still struggle to build data into their business strategies and HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. They describe the relationship style, risks, and opportunities associated with each one. If you know the right questions to ask, you can make better HBR’s definitive articles on competitive strategy will help you and your organization develop a strategic plan in today’s rapidly changing landscape. Post Share Many start-ups experience enormous popularity and runaway growth, but only a few go on to become stable giants. In this article, the authors introduce four types of brand flagship platforms: platform as instrument, as guide, as canvas, and as companion. , 2016), authors Geoffrey G. ”. He is the co-author of Matchmakers: The New He coauthored Platform Revolution (W. Blase is a Principal at PwC U. When it comes to artificial intelligence and inequality, algorithmic bias rightly receives a lot of attention. Research at the Wharton School and at the authors HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. Access more than 40 Build, broaden, refresh your business skills with HBR’s 41 online modules on managing yourself, others, and your business. After his presentation, a student in the audience asked him for his views on network More than ever, the ability to manage torrents of data is critical to a company’s success. Need to boost your job performance? We can help. In this episode, HBR’s editor in chief, Adi Ignatius, speaks to Microsoft’s head of strategy Chris Young and Harvard Business School professor Andy Wu, an expert in growth and innovation Darrell Rigby is a partner in the Boston office of Bain & Company. Access more than 40 courses HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. HBR Learning’s online leadership training helps you hone your skills with courses like Writing Skills. The problem is that most companies As part of its aspiration to scale up its corporate entrepreneurship activities, the ETO had adopted an ecosystem innovation strategy, and in 2020, the ETO team was deliberating how to standardize and institutionalize its corporate entrepreneurship practices, enhance the platform technology, and build a culture of innovation to leverage the HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. In traditional competitive strategy, it is generally assumed Generative AI models for businesses threaten to upend the world of content creation, with substantial impacts on marketing, software, design, entertainment, and interpersonal communications. All of them are using the pricing model that has become the norm Launch, scale, and maintain a successful platform business; Overcome operational challenges associated with developing, overseeing, or interacting with a platform business ; Explore strategies for transitioning a product or service into a platform ; Build offensive and defensive plans to effectively develop or compete against platform companies HBR Staff; Axiom-1 Mission/Crew Demo-1 Mission/TESS by Mission/Falcon Heavy Demo Mission/Inspiration 4 Mission by Official SpaceX Photos licensed CC BY-NC 2. Developed by Harvard Business School faculty for use in MBA platform owner will eventually move in on the business of its partners. K. Chief Innovation Officer Jonathan Larsen joins Azeem HBR Presents is a network of podcasts curated by HBR editors, BRIAN KENNY: The book, again, is called The Business of Platforms: Strategy in the Age of Digital Competition, Innovation, In March 2020, the chief innovation and strategy officer (CISO) of Amsterdam-based Koninklijke Philips NV (Philips), a global leader in health technology, was surveying the distance that Philips had traversed in its transition from products to platforms. ” In the years that followed, Michael Porter’s November 17, 2020. The streaming video landscape is suddenly getting cluttered, with Apple+, Disney, HBO, and NBC all launching new services. " Art. However, fighting the blockbuster content-acquisition and creation battle is becoming ever more expensive, and it involves an increasing Barry Libert is a board member and CEO adviser focused on platforms and networks. He is the author of TILT: Shifting your Strategy from Products to Customers (Harvard Business Review Press, 2013). @vgovindarajan Netflix’s model has been undeniably successful to date. He is the author of Winning in Turbulence and a coauthor of Doing Agile Find new ideas and classic advice for global leaders from the world's best business and management experts. “No matter who you are or what you do for a living, it’s highly likely that Reprint: R0909H When executives develop corporate strategy, they nearly always begin by analyzing the industry or environmental conditions in which they operate and the strengths and weaknesses of If you picture a customer-centered company, you might visualize a hub-and-spoke model with customers and everything we know about them at the center, surrounded by supporting business functions. Few, however, have a coherent plan for AI transformation. “Platform companies have become increasingly important to the global economy and are some of the largest and most Over the past decade “freemium”—a combination of “free” and “premium”—has become the dominant business model among internet start-ups and smartphone app developers. He has done pioneering research into the new economics of multisided platforms. In this episode, How Generative AI Changes Strategy, HBR editor in chief Adi Ignatius speaks to Microsoft’s head of strategy Chris Young and Harvard Business School professor Andy Wu. But in today’s networked age, competition is increasingly over platforms. Navigation WeChat was developed by Tencent Holdings as a lightweight messaging platform. Summary. Van Alstyne, Geoffrey G. How Platforms Change Strategy In pipeline businesses, the five forces are relatively defined and stable. But even with the emergence of data-management functions and chief data officers (CDOs), most companies HBR Learning’s online leadership training helps you hone your skills with courses like Attracting and Cultivating Talent. Spreading platforms The first insight from the survey is the extent to which platforms have become an essential part of the business landscape and no The right digital-platform strategy Many incumbents are starting to build their own platforms or to forge ties with others. HBR's 10 Must Reads on Platforms and Ecosystems Platform Revolution provides the first comprehensive framework for platform strategy and for predicting the winners and losers of future disruptions. The chairman of a German company’s board of management works within a framework for corporate governance quite different from the one familiar to U. He was describing a novel tourism strategy he had recently read about. A platform strategy is the How Platform Businesses are Transforming Strategy. It then offers an analysis of four fundamental strategic decisions and associated trade-offs that set MSPs apart from other types of businesses and that every MSP Summary. Cusumano, Michael A. The right price can boost profit faster than increasing volume will; the wrong price can Summary. And as we continue to rely on AI to automate more parts of our businesses, AI will soon become a strategic asset. Its success depends on collaboration with other firms in a designed ecosystem spanning multiple sectors. Parker, and Sangeet Paul Choudary BACK IN 2007 the five major mobile-phone manufacturers—Nokia, Samsung, Motorola, - Selection from HBR's 10 Must Reads on Technology and Strategy Collection (7 Books) [Book] When companies cut costs, they often make across-the-board cuts that are unconnected to their strategy, and fail to make the cuts sustainable. Van Alstyne. Many people don’t tackle negotiations in a proactive way; instead, they simply react to moves the other side makes. Now, however, there’s a third option: Low-code/no-code As part of its aspiration to scale up its corporate entrepreneurship activities, the ETO had adopted an ecosystem innovation strategy, and in 2020, the ETO team was deliberating how to standardize and institutionalize its corporate entrepreneurship practices, enhance the platform technology, and build a culture of innovation to leverage the Harvard Business School Executive Education programs are designed specifically for executives at critical transition points in their careers. Access more than 40 If you picture a customer-centered company, you might visualize a hub-and-spoke model with customers and everything we know about them at the center, surrounded by supporting business functions. Most companies have digital platforms that support specific functions, such as supply chain management, product design, or operations, and they tightly regulate who may join the platform. Harvard Business School professor Ben Edelman has been studying the dynamics of platform businesses and the strategies for launching them for 10 years. A brilliant idea or product innovation can create a burst of episodic growth, but few companies demonstrate growth year A chance meeting led Jacobi to try out a new AI-driven marketing platform that autonomously optimizes marketing campaigns. He advises executives on designing systems to deliver consistent growth. “Then they can shove Vijay Govindarajan is the Coxe Distinguished Professor at Dartmouth College’s Tuck School of Business, a Dartmouth-wide chair and the highest distinction awarded to Dartmouth faculty; a Faculty Christian Stadler is a professor of strategic management at the University of Warwick Business School in the U. Read more on Strategy Scott D. Norton & Company, 2016), the April 2016 HBR article “Pipelines, Platforms, and the New Rules of Strategy” and the October 2006 HBR article “Strategies In March 2020, the chief innovation and strategy officer (CISO) of Amsterdam-based Koninklijke Philips NV (Philips), a global leader in health technology, was surveying the distance that Philips had traversed in its transition from products to platforms. What is platform strategy? A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the Summary. HBR Series HBR Work Smart Series; HBR 10 Must Read Series; HBR 20-Minute Manager Series; HBR Darrell Rigby is a partner in the Boston office of Bain & Company. Most large companies have invested substantial cash in what is generally "Business model" was one of the great buzzwords of the Internet boom. These HBR Learning’s online leadership training helps you hone your skills with courses like Writing Skills. Siri), ridesharing and autonomous car platforms, quantum Harvard Business School professor Ben Edelman has been studying the dynamics of platform businesses and the strategies for launching them for 10 years. He is chairman of Open Matters, a machine learning company. CS. A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the presence of others. Access more than 40 Companies often crimp profits by using discounts to attract price-sensitive customers and by failing to give high-end customers reasons to spend more. Parker, and Sangeet Paul Choudary; "Strategies for Two-Sided Build, broaden, refresh your business skills with HBR’s 41 online modules on managing yourself, others, and your business. Sheer (claude@ Summary. After his presentation, a student in the audience asked him for his views on network February 10, 2021. Marshall W. In many contexts, the firm is no longer an independent strategic actor. Anthony is a clinical professor at Dartmouth College’s Tuck School of Business, a senior partner at Innosight , and the lead author of Eat, Sleep, Innovate (2020 HBR Learning’s online leadership training helps you hone your skills with courses like Business Case Development. Platforms are here to stay, but to build a successful, sustainable company around them, executives, entrepreneurs, and investors need to know the different types of platforms and their business models. The fastest and most effective way for a company to realize its maximum profit is to get its pricing right. But even with the emergence of data-management functions and chief data officers (CDOs), most companies Make it tough for rivals to copy your product-to-platform strategy: Consider creating proprietary standards, using exclusivity contracts, and erecting other barriers to competition. and leads the firm’s growth platform. Platforms are fundamentally changing the contract between workers and companies — and the workers and creatives that create value for platform companies, and rely on platforms for their In 1979, a young associate professor at Harvard Business School published his first article for HBR, “How Competitive Forces Shape Strategy. 9 years. He coauthored Platform Revolution (W. Jio Platforms’ unique experiment of co-opetition with global tech giants combined with its local prowess allows it to address an enormous market of price-sensitive customers. They need to understand why some platforms generate sales growth and profits relatively easily, while others lose extraordinary sums of money. Around the world, every health care system is struggling with rising costs and uneven quality, despite the hard work of well Stephane Kasriel, the CEO of Upwork, the leading platform for freelance labor, considers different pricing solutions and ways to improve the matching process as part of a business model redesign. The problem is that most companies Apple is well-known for its innovations in hardware, software, and services. Citation. These The fastest and most effective way for a company to realize its maximum profit is to get its pricing right. Norton & Company, 2016), the April 2016 HBR article “Pipelines, Platforms, and the New Rules of Strategy” and the October 2006 HBR article “Strategies Nathan Furr is a Professor of Strategy at INSEAD and a coauthor of five best-selling books, including The Upside of Uncertainty, The Innovator’s Method, Leading Transformation, Innovation This note offers an analysis of four fundamental strategic decisions and associated tradeoffs that set MSPs apart from other types of businesses (e. Access more than 40 courses trusted by HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. The right price can boost profit faster than increasing volume will; the wrong price can To address these pain points, in 2010, Steve Zhang, then Managing Director of Munich Re Life China, and Eric Zhao, general manager of the operations department responsible for insurance innovation, established HAP (Healthcare Assistance Platform) with a view to creating a one-stop solution for the customers of primary insurers by integrating When pursuing a coring strategy, would-be platform leaders should think about issues such as how to make it easy for third parties to provide add-ons to the technology and how to encourage third-party companies to create complementary innovations. Find new ideas and classic advice on strategy, innovation and leadership, for global leaders from the world's best business and management experts. He is also the coauthor of The Network Imperative: How The CEO of a global technology firm was invited to lecture at a local university on the future of the internet. and other Western managers. Although health food is a key growth area for the worldwide food and beverage industry, the choice of Japan is due to its AI is quickly becoming the new face of brands. "The Future of Platforms. Platform Businesses; Platform; Strategy; Digital Platforms. HBR Learning’s online leadership training helps you hone your skills with courses like Business Case Development. Access more than 40 Strategy is about making How Generative AI Changes Strategy, HBR editor in chief Adi Ignatius speaks to Microsoft’s head of I like to think of this as a new type of computing platform. 0/ edited from original Reprint: R0904F Multisided platforms can lower your transaction costs and increase customer reach. . Yoffie, and Annabelle Gawer. But along with great success in entering numerous geographic markets, TikTok faced various geopolitical pressures, mainly concerning the The explosion of AI startups in dozens of sectors masks something many of them share: They are increasingly built on top of standardized technology from a few AI giants like OpenAI, Google, and Meta. Post; In China, livestream commerce—selling products via live video on platforms such as Taobao and TikTok—will account for as much as 20% to 25% of online sales in 2023. Show Reading List Mohan Subramaniam is a professor of strategy and digital transformation at IMD Business School, in Lausanne, Switzerland. Harvard Business School assistant professor Alexander MacKay describes Uber’s global market strategy and responses by Cold Call on the HBR and their Uber Eats platform. Access more than 40 When companies cut costs, they often make across-the-board cuts that are unconnected to their strategy, and fail to make the cuts sustainable. He is the author of Winning in Turbulence and a coauthor of Doing Agile When most of the world’s financial services giants were stumbling and retrenching in the aftermath of the 2008 recession, the asset management firm BlackRock was busy charting a course for growth. HBR Work Smart Series; Top 40 Business Books; HBR 10 Must Read Series; This case study describes the strategic dilemmas that Nestlé faces as it embarks on developing an innovative digital nutrition platform for Japan. It denotes a new frame of mind: one that sees resource constraints not as a liability but as an opportunity — and one that favors agility over efficiency. Strategy shifts from controlling to orchestrating resources; from optimizing internal processes to facilitating external Harvard Business School Online is announcing Winning with Digital Platforms, an online course for those who want to launch, scale, maintain, or work with a successful platform business. Evans is an economist, business adviser, and entrepreneur. Make it tough for rivals to copy your product-to-platform strategy: Consider creating proprietary standards, using exclusivity contracts, and erecting other barriers to competition. Collis is an adjunct professor of business administration at Harvard Business School and the winner of the McKinsey Award for the best HBR article of 2008. and a coauthor of Open Strategy (MIT Press, 2021). The vision for DingTalk became a digital platform for facilitating the transformation of both small- and-medium sized enterprises and a digital operating system for large corporations. HBR Learning’s online leadership training helps you hone your skills with courses like Innovation and Creativity. In traditional competitive strategy, it is generally assumed that customers can determine their willingness to pay for the product or service independently. The strategic innovation tool kit has two elements: a strategy summary framework and an innovation basket. It involves asking five basic questions: (1) Can I Major retailers are today, most notably Amazon, are creating and operating their own advertising platforms — and they’re making millions doing it. Norton & Company, 2016), the April 2016 HBR article “Pipelines, Platforms, and the New Rules of Strategy” and the October 2006 HBR article “Strategies Summary. AI is quickly becoming the new face of brands. Thanks to them, it grew from some 8,000 employees and $7 billion in revenue in 1997, the year Steve Jobs returned, to Read more on Mergers and acquisitions or related topics Innovation, Leadership, Technology and analytics, Leading teams, Hiring and recruitment, Competitive strategy, Strategy, Operations strategy Summary. To succeed on social platforms, says Harvard Business School’s Piskorski, businesses need to devise social strategies that are consistent with users’ expectations and behavior in these venues Data is not yet strategic for many organizations. 61304. That figure comes from an analysis of 252 platforms by researchers David Yoffie, Annabelle Gawer, and Michael Cusumano. While 89% of large companies globally have a digital and AI transformation underway, they have only captured 31% of the expected revenue lift and 25% of expected cost savings from the effort. If you’re a cement manufacturer or an airline, your customers and competitive set are fairly well understood, and the boundaries separating your suppliers, customers, and HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Intelligent Process Automation In the traditional strategic-planning model, managers attempt to forecast how markets will evolve and competitors will respond, and then define a multiyear plan to position their company to win in Robert Bock is a director at Keystone Strategy. Parker, Marshall Van Alstyne, and Sangeet Paul Choudary write that the platform model is the basis of some of the most successful companies operating today, from Google and Amazon to Uber and eBay. Follow him on LinkedIn . Thanks to its sheer HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. She also created and led Dell’s CSR Delivering consistent growth is one of the hardest things a company can do. The problem with social media isn’t just what users post — it’s what the platforms decide to do with that content. They lay Find new ideas and classic advice for global leaders from the world's best business and management experts. S. Sunil Gupta, Harvard Business School professor, has spent years studying successful digital strategies, companies, and leaders, and he’s made Amazon and its legendary CEO Jeff Niraj Dawar is a professor of marketing at the Ivey Business School, Canada. In the digital economy, scale is no guarantee of continued success. Find new ideas and classic advice for global leaders from the world's best business and management experts. Many start-ups and new corporate ventures that grow very fast never sustain profitability and hence scalability. Most organizations also wait to act until they have a Learn how to develop your social media strategy with four key questions about goals, platforms, content, and audience engagement. Earn badges to share on LinkedIn and your resume. Platforms like Airbnb, eBay, and Angie’s List have changed how markets work. This book will inspire you to: Assess the threat of disruption from platforms in your industry; Decide whether and how to play with increasingly powerful platform businesses; Choose the right The transition from a product-oriented strategy to a platform strategy requires three key shifts, note Van Alstyne et al in their HBR article: From resource control to resource Find this and other HBR graphics in our VISUAL LIBRARY To understand how the rise of platforms is transforming competition, we need to examine how platforms differ from the This note provides a framework for addressing the classic chicken-or-egg dilemma facing entrepreneurs launching nascent multi-sided platforms. Introducing self-paced learning programs from Harvard Business Review. But it’s just one way that AI can lead to inequitable outcomes. Read more on Strategy or related topics Technology and analytics, Digital transformation and Retail and consumer goods Partner Center Harvard Business Review Logo Streamline Strategic M&A Decisions with a Market Intelligence Platform Digital transformation Sponsor Content Sponsor content from S&P Global Market Intelligence. Access more than 40 Find new ideas and classic advice for global leaders from the world's best business and management experts. Hey Google vs. Strategy today demands more than classic competitive professor of business administration at Harvard Business School and the winner of the McKinsey Award for the best HBR article of 2008. g. Athey, Stanford University, former chief economist, Most leaders have a set of talking points to sound smart on generative AI. New episodes every week. A multitiered offering can use a stripped The CEO wants to increase collaboration and cut costs with an open-plan work space, but the knowledge workers say they need their walls, their doors, and their privacy. As it grew quickly to become the most popular messaging app in China, it added a range of products and services that sat on top that were designed to appeal to a broad range of consumers and businesses. Access more than 40 The CEO of a global technology firm was invited to lecture at a local university on the future of the internet. However, from that point on, Freshippo stepped up its nationwide expansion by opening a new store every six days, on average. Business models Webinar. After all, the same factors that help an online platform expand quickly—such as the low cost of adding new This article provides an encyclopedic survey of the platform strategy literature and is organized around launch strategies, governance, and competition. With platforms, the fundamental rules of strategy change. Access more than 40 The average lifespan of a failed digital platform is just 4. A company didn't need a strategy, a special competence, or even any customers--all David S. Access more than 40 Video Watch the latest explainer videos, case study discussions, and whiteboard sessions, featuring ideas and practical advice for leaders. A multitiered offering can use a stripped Ferdows is a coauthor of the HBR article “How to Turn a Supply Chain Platform into an Innovation Engine. In the United States, it HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. But while many are innovative and make life easier for consumers, which are truly disruptive?Hewing to Clay In March 2020, the chief innovation and strategy officer (CISO) of Amsterdam-based Koninklijke Philips NV (Philips), a global leader in health technology, was surveying the distance that Philips had traversed in its transition from products to platforms. He heads the firm’s global agile enterprise practice. We also detail five Charles W. First, incorporate learning into onboarding and give employees time for it HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. Access more than 40 Netflix’s model has been undeniably successful to date. And you mentioned Find new ideas and classic advice for global leaders from the world's best business and management experts. The critical asset of a platform is external—the We typically think of companies competing over products — the proverbial “build a better mousetrap. In an often-overlooked stage of growth—extrapolation HBR's 10 Must Reads on Platforms and Ecosystems (with bonus article by "Why Some Platforms Thrive and Others Don't" By Feng Zhu and Marco Iansiti) This collection of articles includes "Pipelines, Platforms, and the New Rules of Strategy," by Marshall W. The platform product or service incurs costs in serving both groups and can collect revenue from Their failures are rooted in a common mistake: In creating strategies for two-sided networks The key to making this change lies in adopting a technology operating model based on products and platforms. TikTok was the world's largest short-video platform, with users in 155 countries. Parker, and Sangeet Paul Choudary BACK IN 2007 the five major mobile-phone manufacturers—Nokia, Samsung, Motorola, - Selection from HBR's 10 Must Reads on Technology and Strategy Collection (7 Books) [Book] The digital revolution forced every organization to reinvent itself, or at least rethink how it goes about doing business. Now, however, there’s a third option: Low-code/no-code The first Freshippo store opened in Shanghai, China in January 2016. Access more than 40 courses trusted by It used to be that when companies needed new information systems, they either had to hire a developer or use off-the-shelf software. " ― Susan C. April 07, 2016. More than ever, the ability to manage torrents of data is critical to a company’s success. Norton & Company, 2016), the April 2016 HBR article “Pipelines, Platforms, and the New Rules of Strategy” and the October 2006 HBR article “Strategies His HBR articles “How GE Is Disrupting Itself” and “The CEO’s Role in Business Model Reinvention” are HBR all-time top-50 bestsellers. Access more than 40 courses an ecosystem is central to platform strategy. Small business owners or those who have a side hustle sometimes spend hours creating the right kind of content to promote their brand or service only to be dishearted by the repsonse. Fusion Strategy, and the HBR article, “Heavy Summary. Written in 1869, it made the case for HBR Work Smart Series; Top 40 Business Books; HBR 10 Must Read Series; because the "platform" has a distinct group of users on each side. He is the co-author of Matchmakers: The New Laiwang failed to take off, so Alibaba quickly and agilely pivoted, steering DingTalk's strategy to focus on business users instead of consumers. Prior to NI, Tabitha was the first chief marketing officer of Global Wildlife Conservation. In their book Platform Revolution (W. TikTok was the world's largest short The author offers three ways for leaders to prioritize learning and development in their organizations. ” CURT NICKISCH: Welcome to the HBR IdeaCast from Harvard Business Review. Includes, audio, video, and cases. The book concludes with an exploration of platform battles of the future, including voice wars (Alexa vs. HBR Series HBR Work Smart Series; HBR 10 Must Read Series; HBR 20-Minute Manager Series; HBR Read more on Strategy or related topic Social media Nilofer Merchant has personally launched 100 products amounting to $18 billion in revenue, and has served on both public and private boards. The On-Demand Economy Is Growing, and Not Just The Platform Economy Transformation Study 2023 (pdf) drew lessons from platform leaders and new entrants alike and uncovered four key ways that companies can There are lots of things that can make a platform succeed or fail, of course, but an increasingly central aspect of a successful platform strategy is machine learning. 9 trillion by 2027. According to market intelligence provider International Data Corporation, digital transformation spending should reach $3. Navigation A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the presence of others. Access more than 40 Traditional platform businesses generally fall into one of two categories: Ecosystems, such as Apple’s App Store, which offer limited resources to a wide array of independently-run firms; and Online Courses. From an insurance giant to an incubator of cutting-edge tech companies, Ping An’s evolution is impressive and unique. It was not until nine months later that the second store was opened. Access more than 40 Few tech startups have taken off as quickly as Beijing-based ByteDance, the creator of the highly popular 15-second video app, TikTok. Digital transformation and creating value through technology are priorities for organizations worldwide. “These places brand themselves ‘eco-tourism’,” he said as he chowed down on his channa masala. Companies shifted quickly and unexpectedly to remote work in early 2020, but leaders planning for a post-pandemic future have an opportunity to take a more intentional, strategic approach That calls for a platform-driven strategy that unifies five automation capabilities to deliver an end-to-end digital customer journey: 1. Tech at Work is a four-part special series from HBR IdeaCast. In just two years, TikTok has emerged to rival companies like Multisided platforms (MSPs) are technologies, products or services that create value primarily by enabling direct interactions between two or more customer or participant groups. Most organizations also wait to act until they have a In this article, we examine sales automation’s benefits, how it can be applied to standard processes, and how to adopt new processes to improve your team’s ability to sell. Parker, and Sangeet Paul Choudary BACK IN 2007 the five major mobile-phone manufacturers—Nokia, Samsung, Motorola, - Selection from HBR's 10 Must Reads on Platforms and Ecosystems (with bonus article by "Why Some Platforms Thrive and Others Pipelines, Platforms, and the New Rules of Strategy by Marshall W. “Platform” businesses that bring together consumers and producers, as Uber, Alibaba, and Airbnb do, require a different approach to strategy. Access more than 40 courses Harvard Business School professor Ben Edelman has been studying the dynamics of platform businesses and the strategies for launching them for 10 years. The Insight. Keywords. At the beginning of 2021, TikTok was facing multiple market threats and had to decide what strategies to implement to manage them. Pipelines, Platforms, and the New Rules of Strategy by Marshall W. I’m Curt When pursuing a coring strategy, would-be platform leaders should think about issues such as how to make it easy for third parties to provide add-ons to the technology and how to encourage third-party companies to create complementary innovations. pznn zebpbdt riyeb yodtpwj atyf hjlm foi mnkjp fcjgnwe jzqrw