Strategic choices in converging industries

Resource Information

The work Strategic choices in converging industries represents a distinct intellectual or artistic creation found in University of Missouri Libraries. This resource is a combination of several types including: Work, Language Material, Books.

Label

Strategic choices in converging industries

Statement of responsibility

by Fredrik Hacklin, Boris Battistini and Georg von Krogh

Creator

• Hacklin, Fredrik

Contributor

• Battistini, Boris
• Von Krogh, George
• Massachusetts Institute of Technology

Author

• Von Krogh, George
• Hacklin, Fredrik
• Battistini, Boris

Subject

• Consolidation and merger of corporations
• Consolidation and merger of corporations -- Case studies
• Corporate reorganizations
• Corporate reorganizations -- Case studies
• Business planning
• Case studies
• Business planning -- Case studies

Genre

• Case studies

Language

eng

Summary

In the relentless evolution of technology and markets, many industries are in the midst of major reconfigurations of their fundamental architectures and how companies capture value. When industries converge, companies that were in seemingly unrelated businesses can become rivals. Managers need to recognize the different drivers and the types of strategic choices that are available to them. Turning a blind eye as the industry's ecosystem begins to change can be costly. Perhaps the most dramatic example of industry convergence is in telecommunications, information technology, media and entertainment, which many people now refer to as a single field, the "TIME" industries. This article is based in part on interviews at 26 companies in these industries. The authors identify four main drivers of industry convergence: technological advancement, open architectures and standards, policy and regulatory reforms, and changes in customer expectations and preferences. In addition, the authors describe four strategies companies have used to sustain growth in converging industries: technology pioneer, market attacker, ecosystem aggregator and business remodeler. Technology Pioneer Technology pioneers enter the market early and make strategic choices on the appropriate technological specialization as well as the control of intellectual property. New ventures following this path recognize that they need to demonstrate the technological potential of their inventions and evaluate the conditions for early customer adoption. Successful technology pioneers pursue these goals by driving standards, becoming the technology of choice and negotiating nonexclusive licenses. Market Attacker Market attackers try to exploit the commercial application of advanced technologies and tap into revenue opportunities generated by the fragmentation of well-established value chains. A particularly effective strategy is to team up with an incumbent and collaborate vertically in the value chain. This often involves three steps: establishing relationships with partners; consolidating the engagement model; and extending their partnerships, weighing different paths to expand scale and reach. Ecosystem Aggregator Ecosystem aggregators attempt to exploit the market opportunities resulting from a wave of emerging technologies. Typically, they are incumbents in the industry and leverage their competences and market experience to establish an innovation platform aimed at complementary pr..

Member of

• O'Reilly Safari Learning Platform: Academic edition

Is part of

• MIT Sloan Management Review

Cataloging source

UMI

Illustrations

illustrations

Index

no index present

LC call number

HD2746.5

Literary form

non fiction

Nature of contents

• dictionaries
• bibliography