As more organizations explore and begin their journey towards business ecosystem value creation, it is also essential that they can understand and identify the correct models to participate in or orchestrate. To help with this first step, recently we identified seven distinct ecosystem business models, each of which has a set of distinguishing attributes and characteristics.
Creating long-term success
With ecosystem business models demonstrating significant operational and performance impact over traditional approaches such as building or buying, a growing cohort of companies across geographies and sectors are making them a strategic imperative.
That being said, ecosystem relationships and business models are technically, operationally, and commercially complex. They also impact every aspect of an enterprise, yet many companies are not structured or culturally aligned to participate in, orchestrate or monetize them. The EY CEO Imperative Study revealed that 88% of CEOs believe the ability to form, lead and manage ecosystems will define successful leadership teams. However, only 48% of survey respondents with high-performing ecosystems indicated they had an ecosystem lead, and when they do, it is usually a functional title that does not guarantee the holder has cross-departmental authority.