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In the B2B platform economy, companies are looking beyond just selling products and are building platforms that enable others — customers, suppliers, and partners — to create value.
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This month’s MIT SMR Strategy Forum poll looks at the space economy, which some estimate could reach $1 trillion in 20 years. We asked our panel of strategy experts to evaluate whether commercial activity in space will see a boon in the next decade, or if this bet on the final frontier is off the mark.
All bubbles are different. Bubbles occur when the market value of assets decouple from their intrinsic value and expectations of rising valuations generate investor demand. Many ambitious infrastructure projects that produced canals, railways, and telecom networks were fueled by bubbles. Unlike the housing bubble, the effects of a bursting AI bubble wouldn’t cause great harm.
Considering how deeply companies rely on innovation, it is astonishing how bad most of them are at finding, developing, and implementing new ideas. When it comes to innovation, there is no single best way to structure and operate internal teams. The real key to success is to find the tools and structure that fit your company’s needs, strategies, and culture.
Advice for shielding your company — and career — from disruption. A step-by-step structured decision-making process. Entrepreneurship in China and medical innovations from patients. That’s what you’ll find in MIT SMR’s Spring issue.
Although most manufacturers are beginning to flirt with digital technologies, not one has successfully pulled off a digital transformation. CEOs still have to figure out its art — and science — forcing them to draw up their game plans on the fly, which inevitably leads to tension and trauma. But they are learning. Here’s how GE has navigated its own digital transformation process.
In the digital age, the competitive landscape can be transformed in the blink of an eye. Companies can use weak digital signals to help redefine their offerings and the scale and scope of how they compete. Companies that can’t do this in a timely manner put themselves at a competitive disadvantage because they must invest in additional resources to catch up.
Few business websites offer features that simplify transactions, create deep customer relationships, and drive sales growth. To succeed, they need to personalize and customize their online selling process through high-performance technology and customer-centered business models.
By many rights, one might have expected to find Adobe on the register of companies disrupted by digital. And yet the 35-year-old software developer has persevered by embracing the very technological forces ― think cloud, mobile, platforms, IoT ― that could have meant its demise. The result? This legacy producer of packaged software designed for the desktop is thriving.
With the rise of blockchain and adoption of cryptocurrencies, companies across different industries can benefit from the increased trust and transparency these emerging technologies provide. Most executives recognize the need to prioritize blockchain as part of their business strategy, but the question of how to adopt and reskill can be daunting.
Blockchain is poised to help media and entertainment companies build innovative business models that offer new monetization strategies for their digital assets and streamline critical business activities.
In the digital world, companies need to become a destination for customers. The key is using digital as differentiation and offering customers something compelling. This requires a new playbook for how to do business as well as new ways of engaging customers. The trend is for individual and business customers to prefer just one or two powerful ecosystems in each industry, raising the stakes for leaders to better understand their options and clarify their own game plans.
Emerging technology and new business models have created new ways of serving customers and allowed digital leaders to disrupt traditional companies. Disruption rarely comes out of nowhere, however: There are common patterns to learn from and three major signals to recognize in evaluating the risk for your industry.
Businesses should use AI technology as a tool to improve customer service and processes, not just to imitate humans.
Managers in less autonomous companies should learn from — and be wary of — the trend toward autonomous companies.
The accelerating pace of technology, fueled by hyperspecialization, digitization, and the ability to control these new environments, has been quietly ushering in a new economy set to disrupt every industry — the coherence economy.
The sharing economy isn’t all bad news for manufacturers of big-ticket items such as cars. Research from Carnegie Mellon and UC Berkeley says that manufacturers will sometimes be able to charge higher prices to customers who are planning to rent out those goods. In a Q&A, one researcher says that when there’s heterogeneity in the market, meaning both a high-usage population and a low-usage population, circumstances are ripe for “a win-win-win for the borrower, the owner, and the manufacturer.”
Many of today’s most successful companies are able to leverage business model scalability to achieve profitable growth. Executives need to factor scalability attributes into their business model design or they risk being left behind.
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