Featuring Maxwell Wessel, general manager of SAP.io, a business unit of SAP pursuing disruptive growth, and coauthor of the HBR article “The Problem with Legacy Ecosystems".
In previous eras, innovations were largely designed to support large organizations’ internal processes and help them operate more efficiently. But with digital innovations, innovators are displacing legacy organizations. As digitization and automation transform the economy, well-resourced incumbents are losing out to upstarts.
Digital innovators—like Amazon and Uber and Tesla—are winning because in the digital economy, value is created differently. Digital relationships provide data that reaches farther into a customer’s world than into those of competitors. This data makes possible new relationships with customers and a new level of intimacy, allowing firms to personalize offerings. The digital economy is resulting in new types of value chains, partnerships, and ecosystems.
On February 22, Maxwell Wessel, coauthor of the HBR article “The Problem with Legacy Ecosystems,” will explain how incumbents are constrained by their established value chains and how industrial-era companies must change.