Developing an Ecosystem Playbook for Corporate Innovation with Best Buy Case Study
In this episode, we delve into the strategies corporate explorers need to develop successful partnerships and co-innovate to deliver value propositions to their consumers. Our guest, Christine Griffin, shares a six-step process for creating an ecosystem playbook, using Best Buy's expansion into the home health market as a compelling case study. We examine how Best Buy transitioned from a retail giant to an orchestrator of home health services through strategic acquisitions and partnerships. Additionally, we explore the importance of understanding value creation, identifying market breakpoints, mapping ecosystem players, and assessing financial flows. This episode also highlights the critical roles of scaling path, capabilities, capacities, and customer access in achieving business success.
Special thanks to our sponsor, Wazoku, for supporting corporate innovation.
00:00 Introduction to Corporate Innovation
00:39 Sponsor Acknowledgment and Guest Introduction
01:52 Overview of Best Buy's Home Health Strategy
03:16 Best Buy's Acquisitions and Initial Footprint
03:55 Building Partnerships in the Healthcare Ecosystem
05:12 Mapping the Ecosystem and Identifying Break Points
10:04 Understanding the Players and Their Roles
12:35 Evaluating Incentives and Profit Pools
15:12 Developing a Scaling Path
18:03 The Importance of Stakeholder Involvement
19:46 Conclusion and Further Resources
Corporate Explorers, Innovation Strategy, Innovation Ecosystems, Best Buy Case Study, Christine Griffin, Scaling Startups, Corporate Innovation, Business Ecosystems, Strategic Partnerships, Innovation Show, Wazoku, Sustainable Innovation, Hubert Joly, Ecosystem Playbook, Technology Adoption, Corporate Explorer Series, Corporate Strategy, Innovation Tools, Best Buy Health, Business Development, Innovation Leadership, Change Logic, Healthcare Innovation, Digital Health, Startup Scaling, Entrepreneurship, Business Growth, Market Strategy, Innovation Mapping, Corporate Transformation
Find Christine here: https://changelogic.com/team/christine-griffin/
Find Wazoku here: https://www.wazoku.com
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