More companies are starting to recognize that developing a vibrant ecosystem of partners across industries is essential for accelerating innovation and withstanding disruption. Partners can share new technologies and knowledge, open up new routes to market, and help create new business models.
Summary.
It isn’t enough for companies to get an ecosystem up and running; they also need to sustainably monetize it. From analyzing company ecosystems, researchers have found that companies must do three things if they want a sustainable profit stream from the ecosystems they’ve created. First, identify a keystone contribution. Second, establish an efficient “tollgate” to collect revenues when partners use that contribution. Third, leverage the ecosystem to innovate and renew the keystone contribution.
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New!
HBR Learning
Sharpening Your Business Acumen Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Sharpening Your Business Acumen. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Take your career to the next level by learning business and finance basics, and developing an enterprise mindset.