Exploring the rise of Asian business ecosystems with Mark Greeven, discussing the distinction between platforms and ecosystems, strategic partnerships, management innovation, digital maturity in B2B platforms, and the future of collaboration in driving innovation
Platforms focus on connecting parties for maximal options, while ecosystems collaborate with partners to curate value offerings.
In healthcare, curated ecosystems can combat decision paralysis and enhance user experience over excessive choices.
Deep dives
Difference Between Platforms and Ecosystems
Platforms and ecosystems are often used interchangeably but serve different purposes. Platforms connect parties seeking each other to maximize options, aiming for exponential value. Meanwhile, ecosystems work with external partners to curate a value-creating offering, focusing on the right partners to jointly create value for the end users.
Challenges of Excessive Choice in Platforms
While platforms aim to offer maximum choice, an overload of options can lead to decision paralysis, known as the paradox of choice. Excessive choices can deter customers, especially in complex services like healthcare, where curated ecosystems can provide more tailored and manageable solutions, enhancing user experience.
Mark Greven's Journey to Studying Ecosystems
Mark Greven's interest in Chinese innovation and ecosystems stemmed from his PhD research, initially directed by his supervisor. Through experiences with Chinese tech giants like Alibaba, observing their management innovations and platform strategies, he delved into studying platforms and ecosystems as a management innovation, adapting to the dynamic Chinese market.
Integration of Platforms and Ecosystems in Established Companies
Established companies, inspired by successful platform models, are exploring ways to incorporate ecosystem and platform strategies. Companies like iAir are reimagining themselves as platforms internally and extending ecosystem models to offer tailored solutions to customers, adapting to evolving digital trends for enhanced business value.
We cannot afford to miss the remarkable rise of Asian business ecosystems
Mark's bio: Mark Greeven is a Professor of Innovation and Strategy and CEO of IMD China. He draws on a decade of experience in research, teaching, and consulting in China to explore how to organize innovation in a turbulent world. He was named on the prestigious Thinkers50 Radar list of 30 Next Generation Business Thinkers in 2017.
Mark has collaborated with innovative Chinese companies (including Ping An, Alibaba, Pinduoduo, and Haier) and entrepreneurial multinationals (including Bayer, Evonik, Johnson & Johnson, Daimler, Nestlé, Richemont, and Swiss Re) to explore novel ways of organizing, accelerating corporate innovation, enabling digital business transformation, and designing business ecosystems to thrive on uncertainty. He is a fluent Chinese speaker.