CxO’s must show their hands in the digital ecosystem
By Gerard Wijers
Is an insurer primarily a brand or a digital factory that offers white label products? Are large publishers still media companies or do they primarily manage content for online news and information? What makes a parcel deliverer the preferred supplier? Is the answer optimizing traditional logistics assets or intelligent use of all available data?
Although the answer in most cases lies in the middle, this illustrates that due to extensive digitization, organizations face a considerable challenge. In addition to the focus on technology and data, organizations increasingly must make strategic choices regarding their position in the digital ecosystem.
Within these dynamics, it is no longer viable to primarily reason from within one’s own organization. Besides asking the question as to what makes your company unique, companies need to look outside: which partnerships can and should you seek in order to achieve long-term strategic goals?
Involve the entire management
Fundamental decisions such as choosing ‘brand or machine’, ‘content or consent’ and ‘physical or virtual’ transcend the agenda of technology leaders such as CIOs, CTOs and CDOs. Due to the strategic importance, the entire management is preferably involved in determining the targeted position within the digital business ecosystem. In addition, management boards need the right tools to get the organization moving.
Positioning the organization starts with self-knowledge. Anyone who wants to be successful in a networked collaboration must reflect on their own strengths and weaknesses. By being aware of the value you add for the consumer, partner or end customer, you can optimally tailor activities to market needs; alone or in collaboration with other stakeholders in the ecosystem. To optimally support analysis and decision-making, Anderson MacGyver recently developed the ValueWeb method.
The ValueWeb enables organizations to thoroughly assess their current and future desired position in the digital ecosystem. By being aware of their position in the detailed mapped value network, organizations enable themselves to respond more adequately to opportunities. For example, by deploying existing activities differently or in new markets, or by developing new activities in an existing market.
The ValueWeb facilitates strategic decision-making through creating structures and providing insight in the bigger picture as well as enabling deeper analysis of key factors. Examples of such strategic issues are whether organizations carry out activities themselves or purchase from the ecosystem and determining which data to keep internally and which to share outside your organization. All while operating in increasingly complex B2B2C dynamics. Again, what matters in the end is reflecting on the value you add; for yourself and for the entire ecosystem.
An interesting notion is that CxO’s have to let go of things anyway. Organizations must open up digitally to play a meaningful role in the “API economy” and in the ecosystems of choice. Organizations must show their hands to provide customers with the right digital experience, to be of value to partners, and to be able to achieve more through collaboration.
As organizations are increasingly coming into contact with each other, connections are becoming more numerous, but also more volatile. Companies must show flexibility between opening up quickly, and if something does not work, close again. The combination of self-knowledge, competences and agility is of great importance to organizations to answer fundamental questions about where they stand, what they want and what they can do. The ValueWeb enables you to come up with the right answers.
Are you curious about your position within a value network, or would you like to play a different role in a developing digital ecosystem? Read our white paper on the ValueWeb or contact Fabian Haijenga. As Anderson MacGyver we will soon organize an Exclusive CIO Masterclass on this subject. Check with Paul Keizer whether you are eligible to participate.