The Power of Platforms and Networks

The Nasdaq website noted that in a business environment with accelerating rates of change, the power to compete and win is shifting radically from corporations to ecosystems, from leveraging internal assets to accessing external networks, from a traditional operating focus on efficiency to dynamic open innovation. Welcome to the Collaboration Economy and the new source of competitive advantage for firms that want to thrive in our new business climate. Firms need to be less insulated and become more synergistic. No one company and management team in isolation can practically keep up with the hyper-changing complexity of our modern business world. It is now up to how firms can creatively connect with one another that determines how successful they can be.

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