3 Steps to Boost Market Expansion with Business Ecosystems
Everyone is talking about ecosystems—including those in the boardroom. Ecosystems have become a key strategy for businesses looking to stay relevant through ongoing marketplace disruption and drive growth and innovation.
In fact, according to an Accenture survey of C-level professionals, 76% of business leaders agree current business models will be unrecognizable in five years—and ecosystems will be the main change agent.
And these business leaders aren’t wasting time—84% of those surveyed said ecosystems were important to their strategy of disruption & 52% say industry innovation is a great threat from competitors forming ecosystems.
Doing nothing is costly—in future years, 30% to 70% of revenue is predicted to flow through ecosystems, and without a strategy in place to leverage partner relationships, businesses will find themselves missing out on significant revenue.
- Date - August 20, 2019