HBR IdeaCast

Open Digital Platforms to Spur Innovation

Jun 28, 2022

In this engaging discussion, Georgetown Professor Kasra Ferdows shares insights on the power of open digital platforms, drawing from Haier Group's innovative approaches during the COVID-19 crisis. He explains how fostering collaboration can turn supply chain platforms into engines of innovation, urging companies to break free from siloed operations. Ferdows also highlights the importance of trust and network effects in driving business success, and how a growth mindset can help organizations adapt and thrive in a rapidly changing digital landscape.

23:37

Creator website

Episode guests

Kasra Ferdows

Highlights

AI Chapters

Episode notes

The Vertical Integration Platform

01:10

Intro

4min

Embracing Openness in Digital Platforms

11min

Navigating Business Innovation through Digital Platforms

5min

Navigating Digital Transformation

4min

Fostering Trust and Collaboration for Innovation

2min

As the novel coronavirus surfaced in Wuhan in 2019, Chinese officials called for mobile isolation wards. Haier Group partnered with suppliers to design and construct units quickly, thanks to the openness of the leading manufacturer’s digital platforms. Unlike Haier, many companies have tightly regulated, siloed platforms. Georgetown Professor Kasra Ferdows says more companies can unlock innovations by extending their platforms to facilitate a broader range of collaborations. He breaks down how Haier capitalizes on the expertise and resources of its ecosystem and rapidly exploits new business opportunities. Ferdows is a coauthor of the HBR article "How to Turn a Supply Chain Platform into an Innovation Engine."

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