Deglobalization and Verticalization of borders are changing the ecosystems are fundamentally changing how businesses collaborate and compete. Is your enterprise ready to be part of existing ecosystems or ready to build one?
Sonicorn can hit the ground running when it comes to developing an ecosystem for organizations for managing strategic relationships among partner companies across global markets while driving its economic growth.
In the Past strategic alliances around the world were created through mutual legal agreements and joint ventures with a limited number of trading partners. But now, many companies collaborate in digital ecosystems of hundreds of partners from several industries across the world to bring their offerings to market. While this transformation and adoption is happening around the world, it still has a problem of assuming the market to be centralized. The uniqueness of the Sonicorn Ecosystem is, it accommodates the decentralized nature of the markets and dynamic and fast-changing rules of engagements.
In a digital ecosystem, many largely independent economic players join forces to create a digital offering that is more valuable than a single company’s product or service. Some digital ecosystems develop solutions—like a connected car or a smart home. Others bring together buyers and sellers on a digital platform.
This new collaboration model isn’t a fad; it’s the future of business. Many of the world’s largest companies are part of vast digital ecosystems that are disrupting not just their industries but broad swaths of the economy.
The central pillar of a strong ecosystem has partner companies’ important elements of long-term vision, ability to sustain, business values, and appetite to grow.
Unless a company have the same aspirations, shared interest, and common goals, and is fully aligned with the central organization, it won’t add any value to the ecosystem. This is where the Sonicorn Decentralized Ecosystem framework makes a lot of difference.
The ecosystem must seek a unique model and beyond border partnerships
- Sonicorn key philosophy is that the scope of ecosystem partnering shouldn’t be geographically constrained, the companies could able to become a partner from anywhere in the world. Sonicorn helps clients work with cross-border companies to obtain not only their potential products and services to compete more efficiently in their respective markets but also find infinite opportunities for financial growth due to enhanced capability brought by international companies for handling bigger clients.
- Sonicorn believes building ecosystems are not a run-of-the-mill kind of product as each organization has its operational style and business values that could be completely different from the other. It builds ecosystems from a position of organizations’ assets and competitive advantages.
- Partnering with the organizations’ ecosystem confirms companies agree to align in progressing toward the common goal of financial growth. The ecosystem will have key stakeholders, crucial resources, and top management move in the same direction.
- The ecosystem must be risk-tolerant and equipped to handle competitive market threats when it comes to organizational expansion
- The partner companies will have synergistic relationships that form strategic partnerships to deliver value for customers.
- The ecosystem should create opportunities for interconnected enterprises to operate jointly. There is a role for every enterprise and it shouldn’t overlap significantly with others.
- The ecosystem should coordinate and provide continuous support in all aspects of development to the partner companies during all stages of the lifecycle
- The partner companies should be able to provide services to the ecosystem network irrespective of their geographical locations.
- The ecosystem needs to have the flexibility and fluidity to make data-driven customer-centric decisions while protecting the integrity of the data.
In simple terms, ecosystem development for organizations is the concept of creating a special network of ventures and individuals that mutually support and cooperate to drive financial growth for them as well as for the organization building that ecosystem.
When interconnected enterprises under a network acquire the capability to jointly walk in the economic direction, the evolution of a successful ecosystem begins
From a more logical standpoint, ecosystem development for an organization is not just about collecting and integrating a group of companies with it, it’s rather about creating an environment conducive to all aspects of its economic growth. It’s a framework that supports accessing human capital, financial resources, knowledge and experience, research and support, and regulatory compliance for partner companies.
From a technical standpoint, to make partner companies work efficiently and produce optimal outputs in an ecosystem, the ecosystem must utilize the latest and extensible technologies (Artificial Intelligence, Blockchain, Cloud Computing, Robotic Process Automation (RPA), Augmented Reality, Data Analytics, 5G network, etc) that enable them to plug into each other quickly and unplug once they no longer require collaborating.