How can I get Business Ecosystems onto the radar of the C-level of organizations has been a real struggle recently? Is this my messaging or this need simply is getting caught up with so many other, perhaps more pressing issues
What I am clear about getting business ecosystems onto the radar of C-level executives requires a clear, compelling, and quantifiable approach that resonates with their strategic priorities.
Defining Business Ecosystems has to be the starting point. It can be so different for different people and their needs (to resolve) or understand how ecosystems can resolve these issues, when they come across as complex and expensive to undertake.
The going beyond tradional partnerships and offering different successful examples is important. You do quickly peel away the “usual” time problems by going directly to their concerns and what might be the mitigating risks in governance, trust, sharing, investment and resources along with the potential impact on any organizational shift.
If you get past these the two needs of appropriate focus are the Strategic elements and the need to move into determining a internal champion so the educating internally can be assessed.
Certainly addressing time commitments, costs and the stages to go through along with the resources avaialble in forming teams, being the leader and allocating a sponsor. I work far better in advisory, mentoring and coaching environments to bring interest, understanding and identification up to the levels to bring Ecosystems “better placed” on any radar of the organization or the C-Level themselves.
I work through a few mental checklists to move through these early stages of building interest
1. Speak Their Language: Focus on Value and Strategic Imperatives
- Quantify the Impact: C-level executives are driven by measurable outcomes. Present the value of business ecosystems in terms of:
- Revenue Growth: New customer segments, untapped geographies, new monetization sources (subscriptions, data, add-ons, licensing), and accelerated innovation leading to new offerings. Studies show ecosystems contribute significantly to revenue.
- Cost Reduction: Shared resources, infrastructure, reduced friction and investment in growth, operational efficiency, and optimized resource allocation across partners.
- Increased Profitability and Earnings: Link ecosystem initiatives directly to the bottom line.
- Enhanced Business Resilience and Agility: How ecosystems enable faster response to market shifts, diversification of offerings, and reduced risk.
- Increased Valuation: Some analyses show a significant uplift in enterprise value for companies with sophisticated ecosystem engagement.
- Align with Existing Strategic Priorities: Connect business ecosystems directly to your organization’s stated goals, OKRs (Objectives and Key Results), and key initiatives. For example:
- Is the company focused on digital transformation Ecosystems are inherently digital and agile.
- Is innovation a key driver? Ecosystems foster collaborative innovation and disruption.
- Is customer centricity paramount? Ecosystems create more interconnected and valuable customer experiences.
- Competitive Advantage: Explain how embracing ecosystems creates a “moat” by building network effects, increasing switching costs for customers, and accessing complementary capabilities that competitors might lack.
- The “fear” of missing out
- The concern of markets undergoing rapid changes
- The encroachment of new competitors
- The erosion of market boundaries
- The expectation of customers and the need for more “connected” experiences
I think these cover the drivers of building a better understanding of how Business Ecosystems can offset or contain, equally offer a different alternative and growth impact.
Any thoughts? Ecosystems offer some amazing shifts in an organizations fortunes and can truely transform a business and what and how it can offer its solutions.