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thriving in an increasingly digital ecocsystem study case

thriving in an increasingly digital ecocsystem study case

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The business world is digitizing rapidly, breaking down barriers to the industry and creating new opportunities while destroying successful business models. We call this process digital disruption, and although it often takes longer than we expect sweeping technology-enabled change, history shows that the impact of such change can be greater than we ever imagined. Speak of steam engines, vehicles, ships, televisions, telephones, mobile phones and e-books, most recently. The market was slow to develop with e-books. Traditionalists said you couldn't replace a paper book's experience

It is time for companies to evaluate these threats and opportunities and start creating new business options for the future— the more connected future of digital ecosystems, given the amount of turmoil that causes digital disruption. Members of the board of large firms agree. In recent research by the MIT Center for Information Systems Research, board members estimated that 32% of their company's revenue would be threatened by digital disruption in the next five years; 60% of board members felt that their boards should spend significantly more time next year on this issue.

In many cases, this strategy is demonstrated by Wal-Mart Stores Inc.'s primary business model. Wal-Mart knows a great deal about its products: where it comes from, where it's in the shop and when it's available. It doesn't always know who its clients are, though, and why they buy what they do. Digitization, however, allows consumers and businesses to seek a wider range of benefits. For example, the ecosystem for Amazon.com Inc. offers greater choice of customers and allows for faster innovation. The increased consumer value stems from the fact that different retailers frequently market similar (or even identical) goods at different prices or levels of service.

The convergence of moving from value chains to markets and growing customer awareness offers four distinct business models with similar skills and relationships for business leaders. Next, the degree to which businesses want to manage the value chain or be part of a more dynamic environment needs to be decided. Second, they have to decide how much they want to spend in getting to know their end customers. They may choose to act as (1) distributors, (2) omnichannel businesses, (3) drivers of ecosystems, or (4) modular producers.

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