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Digital ecosystems are part of the new reality

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that organizations find themselves in.

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This new reality requires companies to,

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one, develop new and novel value propositions,

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two, personalize and tailor these value propositions

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almost to a segment of one

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and, three, innovate at the speed of ideas.

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To do these, companies need to expand their scope

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of innovation beyond their four walls

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and need to collaborate with a set of third-party players

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to an extent that has never been seen before.

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Just think about the typical automaker in the 80s,

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that automaker would need to get into

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a joint venture or alliance with an OEM,

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or enter hundreds of contracts with partnerships,

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with suppliers for parts.

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Today, the world is very different.

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Beyond those traditional partnerships,

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this automaker would have to get into an ecosystem

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across several partners and several industries

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to be able to manufacture cars that are connected,

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fuel efficient, hybrid or electric and autonomous.

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But an ecosystem,

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whether you're an orchestrator or a participant,

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isn't for all.

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To determine if an ecosystem

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is the right approach for you,

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you have to consider the following.

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One, focus.

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Do you see a shift from a single product,

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to an integrated suite of solutions in your industry,

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and if so, do you want to own

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the last mile of that customer journey?

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Two, deal type.

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Do you see innovative ways of collaboration

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within your industry?

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For example, a minor stake within some ecosystem players,

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two, open collaboration,

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three, a multi-lateral partnership.

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Three, industry.

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Do you see non-industry players entering yours?

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Or do you see your competitors

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entering non-traditional industries?

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Four, geography.

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Are there certain players in your target geography

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that you believe will significantly improve

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your speed to market?

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And are these capabilities developed,

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extensible to other markets and geographies?

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Five, flexibility.

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Do you see a shift, to more agile

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and flexible collaboration models?

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Do you see a shift from a finite set of players

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to a broad suite of ecosystem players?

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Six, structure and value creation.

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Do you see a shift from one-dimensional partnerships,

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to a network of collaboration in your industry.

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Seven, rationale.

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Do you see a fundamental shift

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to success in your industry

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being driven from innovation and speed to market?

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And eight, contribution.

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Do you increasingly see,

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intellectual property on non-monetary assets

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as the key winning assets in your industry?

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And if the answer to one or more of these questions

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is yes, then there is likely value

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in a well thought out ecosystem strategy for you.