What is a platform innovation?

Platform innovation refers to changes in support structures that increase the effectiveness with which a group of activities may be performed. Product platform innovation entails changes to a common component or body of knowledge that may be redeployed across products.

What is an example of a platform?

An example of a platform is a raised surface next to a train track that you stand on while you wait for the train. An example of a platform is a graduation where you are asked to give the speech; a platform for your ideas. Windows or OSX (mac) are examples of a computer platform.

What is the key definition to platform?

A platform is a business model that creates value by facilitating exchanges between two or more interdependent groups, usually consumers and producers. In order to make these exchanges happen, platforms harness and create large, scalable networks of users and resources that can be accessed on demand.

What is a platform thinking?

Platform thinking is a revolutionary new way of thinking about how markets work – how consumers, companies or brands, competitors and others interact and create value.[i] The traditional way of thinking of markets is in terms of producers and consumers.

What is an example of an innovation?

Lego has been changing the materials of its famous bricks to biodegradable oil-based plastics. The first electric vehicles introduced in the car’s market were also an innovation, and new batteries with longer ranges that keep coming out are also an example of innovation.

What are different types of platforms?

Several iterations on the data produced nine distinct platform types that we introduce in this post:

• Technology Platforms.
• Computing Platforms.
• Utility Platforms.
• Interaction Networks.
• Marketplaces.
• On-demand Service Platforms.
• Content Crowdsourcing Platforms.
• Data Harvesting Platforms.

What are the different types of platforms?

What makes a good platform?

Connection: how easily others can plug into the platform to share and transact. Gravity: how well the platform attracts participants, both producers and consumers. Flow: how well the platform fosters the exchange and co-creation of value.

What is a platform capability?

A platform capability of an object identifies the platform name of the systems that the object, or specific symbols within the object, can execute upon. Multiple platform capabilities can be defined. This identification is very specific, and takes precedence over any other capability types.

What is digital platform strategy?

Digital Platform Strategy is the backbone of digital transformation. Customer expectations are shaped by experiences with digitally native industry leaders and are driving all organizations to adapt their business models to become more convenient, more responsive and more personalized.

What does it mean to be an innovation platform?

To innovate means simply to look at reality and rearrange the constituent elements in new value-enhancing configurations. For business this means to use products, services and technology in a new way to reach your goals—preferably more efficient than before. In this article, we will examine what types of innovation platforms exist out there.

What does it mean to be a platform?

Being a platform or not is more of a range than a set point.” What is platform strategy? A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the presence of others.

Which is the best definition of a platform strategy?

A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the presence of others. In traditional competitive strategy, it is generally assumed that customers can determine their willingness to pay for the product or service independently.

What makes a platform a good business model?

Platform businesses don’t, to use a common phrase, own the means of production— instead, they create the means of connection. Successful platforms facilitate exchanges by reducing transaction costs and/or by enabling externalized innovation.