In the video about “the Future of Work, Leadership, and Value Creation,” he starts with the people that make up a business and the inner workings of their attitude, leadership, responsibility, motivation, and creativity. By creating a better work environment, it gives value to the employees. This, in turn, helps the company in a positive way by creating a community network instead of a group of people motivated individually. Culture drives system behavior.
In the value chain chart, we see the different activities of a business but also what separates the categories and what each branch focuses on. When you add a margin to this, you get what buyers are willing to pay. This is important in understanding the functions of a company to see the worth of what you are creating, how much people are willing to pay, and the profit you can get out of it. If a company doesn’t understand this, then they will not be able to evaluate the numbers and therefore will not be able to sell enough product to cover costs or buyers won’t be willing to purchase the product.
In “The Real Future of the Platform Economy,” it talks about the representational layers of the evolution of digitally enabled markets that include infrastructures, aggregators, and long tail. This interaction is between suppliers, businesses, and consumers. The 5 strategies are 1) mass market to personalization 2) standardize transactions 3) provide software for simplification 4) aggregating demand and supply 5) identity and reputation. If we let ecosystems explore and create new propositions, then they institutionalize and commoditize them and the value chain thrives.
The article “Why Some Platforms Thrive and Others Don’t,” builds on this idea. The best strategy for a business network is user interaction and amassing high amounts of data. Assets such as this are valuable in multiple scenarios and markets. By leveraging them, firms can diversify into different lines of business and improve their economics.
I think the most important point that relates to all the sources is creating a network and what its value represents to the consumer, the company, and the community. The reason why this is so important is that it is how companies such as Amazon have done so well.
