Accenture Strategy reports that 93% of surveyed Chief Strategy Officers expect digital disruption in their industries, but only 20% feel prepared for it, according to Platform strategies: How the rules of competitiveness have changed in the era of ecosystems. Citing examples from health, retail, automotive, they show how platforms help bring products into larger ecosystem, which itself becomes “one large competitive set.” Companies need to choose to extend business to other parts of ecosystem, engage in multiple ecosystems, or otherwise find a “sustainable, competitive position in the digital ecosystem.”
The emergence of platforms has transformed many industries and forced companies to think beyond their specific product and into the larger ecosystem where their products fit. Accenture’s survey results suggest that much more disruption is to come with new ecosystems to emerge. Strategists will be challenged to anticipate these ecosystems and position their companies to sustain competitive advantage.