December 30, 2021
ZDNet recently featured insight co-authored by Marshall Van Alstyne, Professor of Information Systems, focusing on the positive correlation between the collaboration of IT and business professors which was showcased through a report done by PwC.
The article explains the significance of leaders investing in process automation, allowing employees to accomplish tasks faster. Marshall and his co-author detail the positive impact a platform strategy, which the co-authors call an ‘inverted firm,’ brings to organizations and its ability to open up value creation beyond the walls of the enterprise. Through their study, the authors found the network effects to be a major source of growth, stating that, “adding the ability to coordinate value creation and exchange — from user to user, partner to partner, and partner to user — is one way that traditional firms transform. It also provides means to scale. Transforming atoms to bits improves margins and reach. Transforming from inside to outside magnifies ideas and resources.”