AVEVA reposted this
"If you want to go fast, go alone. If you want to go far, go together." In many ways, that old proverb encapsulates the tradeoffs associated with business ecosystems. These tradeoffs are the focus of the latest report from IMD and AVEVA’s research collaboration, “Understanding business ecosystems: An executive overview,” published today. It’s always going to be faster and easier to build something on your own. It’s often more valuable, however, to connect and collaborate with partners, so that ecosystem participants improve shared outcomes by contributing information and capabilities they uniquely possess. The logic isn't new: Since David Ricardo articulated the theory of comparative advantage, we've understood that specialization and exchange can create more value than self-sufficiency. The challenge is that, in ecosystems, value is bounded by what the report’s authors call the “alignment tax,” the coordination costs that inevitably come with interdependence. For AVEVA’s customers in industry, optimizing that coordination across people, assets and processes is the matter of the moment. #IndustrialIntelligence can help lower this tax burden by reducing friction in the system. When participants have access to the right data, in the right context, at the right time, they are positioned to make smarter decisions, increase collaboration and govern shared operations more effectively. The new research contains many more insights on the what, why and how of ecosystem value. Read the full report: https://lnkd.in/gxrr25CB Konstantinos Trantopoulos Kunjian Li Mark Greeven Michael Wade