Leverage Platforms To Access Ecosystems Of Talent, Technology and Information
Traditionally, strategy was largely seen as a game of chess in which managers sought to optimize their value chain,
maximize bargaining power with buyers and suppliers and minimize threats from new market entrants and substitute goods. Yet today, the nature of power has changed and advantage is not determined by what assets you control, but
what you can access.
That’s why today, firms must leverage platforms to access ecosystems of talent, technology and information. Even the internal capabilities of the largest corporate giants pale in comparison to those which can be found outside the boundaries of an organization. As Bill Joy, put it, “no matter who you are, most of the smartest people work for someone else.”
Build A Collaborative Culture
Many thought that the digital age would lead to a more solitary existence. With so much you can access through your computer screen, why would you need to go to an office? In fact, just the opposite has happened. While remote work has become a reality, it’s much harder to go it alone than it used to be. In fact, collaboration has become a competitive advantage. As MIT’s Sandy Pentland has put it, “We teach people that everything that matters happens between your ears, when in fact it actually happens between people.”
Understand That Innovation (and Partners) Is A Messy Business
When we think of innovation, we often conjure up visions of Steve Jobs wowing the crowds at Macworld, but the truth is that innovation is a messy business. Part of the problem is that we mostly see successes, while failures often go unnoticed or are swept under the carpet. We get taken in by myths and gloss over the realities.
That’s why so few technology organizations can innovate (or do partnerships) well. It is such hard, heartbreaking work.
It doesn’t lend itself to shortcuts or “silver bullet” solutions. Truly breakthrough innovations are never a single event, nor are they achieved by one person, or even within a single organization. Rather, they happen when ideas combine to solve important problems.
Greg Satell is Co-Founder of ChangeOS, a transformation & change advisory, an international keynote speaker, and bestselling author of Cascades: How to Create a Movement that Drives Transformational Change. His previous effort, Mapping Innovation, was selected as one of the best business books of 2017. You can learn more about Greg on his website, GregSatell.com and follow him on Twitter @DigitalTonto