{"id":34946,"date":"2018-10-31T14:33:11","date_gmt":"2018-10-31T09:03:11","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34946"},"modified":"2018-10-31T14:33:11","modified_gmt":"2018-10-31T09:03:11","slug":"of-new-ecosystems-and-more-competition","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/of-new-ecosystems-and-more-competition\/","title":{"rendered":"Of new ecosystems and more competition:"},"content":{"rendered":"<p><a href=\"http:\/\/www.livemint.com\/Opinion\/4pgM6eVCMJ2Rhq0VTBLKQJ\/Of-new-ecosystems-and-more-competition.html\"><span style=\"font-weight: 400;\">Of new ecosystems and more competition<\/span><\/a><span style=\"font-weight: 400;\">:<\/span><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Instead of adding skills and services in-house, companies are proactively partnering with other organizations<\/span><\/li>\n<\/ul>\n<p><b>What is happening?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There is a fundamental shift in industry today of ecosystems, rather than individual firms, competing with each other.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Companies are looking outside their organizations to acquire skills and capabilities rather than building them in-house.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This means that they are also integrating and partnering with other organizations more proactively than before.<\/span><\/li>\n<\/ul>\n<p><b>What are the reasons behind this change?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The rise of the new-age consumer who is more aware and has access to more information is the main push factor.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Such awareness makes them extremely demanding, and at the same time not loyal to any one brand.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This shift is putting immense pressure on organizations to take a holistic, long-term view in terms of revenue and create a sustainable business by increasing proximity with consumers.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Everyone understands that technologies such as blockchain, cognitive, Artificial Intelligence (AI), robotics, etc., can do wonders for their business, developing in-house capabilities and continuously upgrading those can also become a distraction from the core business.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Such understanding itself drives organizations to tie up with start-ups and companies excelling in specific areas to deliver these requirements.<\/span><\/li>\n<\/ul>\n<p><b>Importance of digital technology<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">While the operating expenses model of selling and buying services is not new, digital technologies today have made it possible to provide almost anything as a service.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Organizations are making revenue by developing an ecosystem of companies (like those selling fertilizers, pesticides, farm equipment, insurance, etc.), for whom the farmer is the buyer and the \u201cfarm as a service\u201d company providing easy access to these farmers by getting them on the platform.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Of new ecosystems and more competition: Context Instead of adding skills and services in-house, companies are proactively partnering with other organizations What is happening? There is a fundamental shift in industry today of ecosystems, rather than individual firms, competing with each other. Companies are looking outside their organizations to acquire skills and capabilities rather than&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/of-new-ecosystems-and-more-competition\/\">Continue reading <span class=\"screen-reader-text\">Of new ecosystems and more competition:<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34946","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704817160},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34946"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34946\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}