Jump on the bandwagon with Ecosystems!
This quarter’s feature article is going to focus on Ecosystem Technology and how it is being adopted by organizations. Companies are having to adapt to these emerging systems to stay relevant and they are a dominant structure of our time. The impact they are having on product platforms are defined by core components made by the platform owner.
In successful ecosystem technology it is easy to connect to, or build upon, the core solution in order to expand the use of the system and allow new and unanticipated end uses.
The core firm’s product has important but limited value when used alone but substantially increases in value when used with other applications. An example of an ecosystem that we can all relate to would be the service that many grocery stores now offer for a home delivery service via a third party. Another would be the use of a cell phone to order the groceries and specify a time for delivery. Another example is TutorPro’s technology ecosystem. Each of TutorPro’s products work independently but if you take the TutorPro Learning Management System (LMS), along with Courseware and deploy it with our new performance support tool TutorPro Athena, the benefits are exponential!! Not forgetting our upcoming release of an LMS API, empowering our Client Family to connect to other platforms to push and pull data.
Ecoystems include well known smart phone platforms, social media platforms, travel platforms, banking platforms, electronics and card processing platforms to name a few. According to Cisco, a world leader in Technology, there will be more than 50 billion connected devices by next year. It all boils down to IT leaders forming partnerships with specific vendors who can move business forward and understand the need to grow revenue. With these ecosystems will come a need to look at strategies (marketing, business, etc) as well as overall processes. From a Legal standpoint, there could be regulatory and compliance issues among others.
Industry platforms for ecosystems are foundation services that support a larger group. It has been said that many successful entrepreneurs possess leadership traits and a similar vision when it comes to business development. A product is good, but a platform is GREAT!
Ecosystems have also invaded the co-working industry space. Co-working is a style of work that embraces a shared working environment for multiple businesses . It focuses on community, creativity and innovation. The Team TP Atlanta group work in a co-working environment in Midtown Atlanta and they enjoy meeting new people and the perks tied to their work environment. This work environment partners with various other businesses (coffee company, markets, wellness groups) and collaborates to provide amenities and support to the coworkers daily.
A great site to read about ecosystems (of all kind!) is: http://www.thenextevolution.com/category/business-ecosystems/
David Kish is a Next Gen Strategist who is the creator of the Ecosystem of You, it is a model to co-create next generation social economies.
The choice for many companies is either to jump on the bandwagon with ecosystems or risk becoming obsolete. This is not a trend- -it is the wave of the future and shows no sign of slowing down!