Marcos Aguiar, Ulrich Pidun, Santino Lacanna, Niklas Knust, and Francois Candelon
Trust, we instinctively realize, is a precious quality that binds relationships, and nowhere more so than in business ecosystems. It’s foundational, but also fragile because all the participants in an ecosystem must learn to work with, and rely on, each other, knowing that no external force compels them to do so. Mutual trust, as much as mutual interest, binds business ecosystems.
Yet few business leaders focus on fostering trust when they create and orchestrate ecosystems. Instead of systematically and specifically incorporating trust into the fabric of their ecosystems, most operate under the assumption that trust will automatically grow over time. However, trust is difficult to build—and easy to erode. When it is neglected, trust withers and distrust blooms, dooming ecosystems to failure.
Data shows that trust-related issues are a major cause of ecosystem failure. The BCG Henderson Institute (BHI) recently conducted one of the first global research projects focused on the role of trust in business ecosystems. (See the sidebar, “Research Methodology.”) Our analysis found that trust was a proximate factor—albeit not necessarily the root cause—in the failure of 57 of the 110 unsuccessful ecosystems that we studied. Full Article
Advances in artificial intelligence (AI) over the past couple of years have made the technology an important part of business transformation. Whether in search of efficiencies, savings or simply more advanced ways to deal with increasing quantities of data, businesses from all sectors have begun to seriously consider how they can implement AI to achieve an advantage.
However, AI is not the panacea many would have you believe; as with all technical investments, the success of an AI installation is highly dependent on the way it is selected, implemented and integrated with the rest of the business. AI does deliver incredible ROI for some businesses, but for others, it can result in wasted time and financial losses. Full Article
Stephen Watts, Matthew Tracy
Throughout our blog, we’ve talked a lot about a number of frameworks that can be applied with varying degrees of flexibility to your enterprise business model. Today, we are going to discuss Technology Business Management, or TBM. Unlike some other resources, TBM is a framework that helps businesses integrate IT into the whole. What’s unique is that it doesn’t assume businesses are already fully IT integrated; instead, it provides a pathway to do so. Full Article