Businesses with Ecosystem Mindset

Daniel Fasnacht

Chapter 6 in Open Innovation Ecosystems, 2018, pp 173-204 from Springer

Abstract: Abstract While large and traditional firms usually represent financial and organizational stability, fintechs are agile and flexible when it comes to transformational changes as they are part of disruptive business models. The characteristics could not be more diverse; the more stability and agility mutually exclude each other. The success of incumbents as well as startups in the next decade is predicted on being part of an ecosystem where they can acquire the capabilities required to innovate and grow. We provide a wide-lens view that expands business development to the entire ecosystem, considering the environment and all stakeholders. Financial institutions need to redefine their individual value chains and adopt an ecosystem mindset with value constellations. A dynamic client segmentation based on behaviour, supported by artificial intelligence and machine learning, provides a better understanding of client needs. The increasing client intelligence helps to develop new segments with innovative solutions. While some firms applied different models for automated investments, others test digital fund platforms as data supplier for the synthetic development of new products. Harnessing the ecosystem to develop underserved markets, create new businesses, or use cases for blockchain asset management and as a transaction management platform is what we discuss in this chapter.

Date: 2018
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-76394-1_6

Ordering information: This item can be ordered from
http://www.springer.com/9783319763941

DOI: 10.1007/978-3-319-76394-1_6

Access Statistics for this chapter

More chapters in Management for Professionals from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().