Platform-based business model strategies for manufacturers seeking pivot opportunities: Embracing the leveraged beauty of a smart service platform
ISSN: 0258-0543
Article publication date: 29 October 2020
Issue publication date: 15 December 2020
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
This conceptual paper concentrates on how manufacturing companies can revitalize their business models by pivoting into becoming smart service providers accessed through a smart service platform. Three strategic platform options – for firms who wish to pivot from being smart service providers to smart platform providers – are a smart data platform, a smart product platform, and a matching platform. User co-creation molds with data gathering on smart product platforms, which creates scalable opportunity once multiple smart products have been built. Making this kind of transition involves sequential upskilling and investment in tech, branding, and stakeholder management.
Originality/value
The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.
Keywords
Citation
(2020), "Platform-based business model strategies for manufacturers seeking pivot opportunities: Embracing the leveraged beauty of a smart service platform", Strategic Direction, Vol. 36 No. 12, pp. 1-3. https://doi.org/10.1108/SD-09-2020-0167
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited