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What's Next for Business-to-Business Platforms in 4 Markets
Jul 28, 2021 | MIT Sloan School of Management
"When [Dartmouth Engineering Professor] Geoffrey Parker co-wrote 'Platform Revolution' in 2016, nearly every example of a transformative digital platform was one that facilitated business-to-consumer connections," reports MIT Sloan School of Management. "Those platforms still dominate the conversation five years later — but now they've been joined by a growing range of business-to-business platforms. Established firms have read the tea leaves and seen the benefit of building B2B platforms to connect customers, technology partners, and other key stakeholders while maintaining normal business operations, said Parker..."
"Investing in marketplace platforms left these firms better positioned to respond to supply and demand disruptions over the last 18 months than companies that had simply invested in point solutions, he noted.
"But enterprises in the early stages of developing a marketplace platform must recognize that 'it gets worse before it gets better,' Parker said."
..."Before firms can have a platform, they need an open architecture that platform participants can plug into. As a result, they need to prepare for a negative impact on business operations as well as return on investment before the marketplace is up and running: 'There’s a little bit of positive benefit, and then there’s a trough of negative returns,' [Parker] said.
"At the 2021 MIT Platform Strategy Summit, Parker and other speakers highlighted the impact of increased platform activity in the financial, health care, heavy industry, and e-commerce sectors."
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