During the past few years, We have witnessed that many platforms have just become household names as they have reshaped processes and increased productivity in various organizations around the globe.

Today’s platforms have emerged in every major sector/segment to change how we communicate with each other and conduct to operate transactions and evolve for remaining effective and thus efficient.

Platform Economy is the remarkable increase in expansion of the many new platform-based ecosystems that are rapidly developing into innovative & strategic technology platforms, With the potential to not only leverage capabilities and create value for both the individuals and organisations involved, but, to create an enormous potential for innovation and growth.

Platform Economy Concept is not New:

Platforms have been a part of society since ancient times when communication and community transactions for commerce used to take place.

Continuous Change has evolved platforms into the revolutionary global economic forces of today.

The difference is now with a technology-enabled society a location or physical contact is no longer required as a basis for communication or exchange of information/transaction.

Platforms are Not Technology:

Platforms foster intense technological changes to embrace them with tremendous benefits via introducing innovative non-linear business models into the traditional marketplace.

Platforms become more and more successful by truly transforming and redefining a method of doing business.

Platforms are often made up of many technologies, not just one.

Simply Put Together, Platforms are a Strategy:

As mentioned above, Platforms are not Technology. But, a platform transforms and disrupts a traditional linear supply chain to create a new interdependent value chain exploring and experimenting on the technology that it is being built, thus proving continuous transformation for innovation and keeps evolving for optimal performance.

Through technological advancements, this new decentralized value chain (new platform) is able to increase exponentially through its growing network of users (with the strategy enablement within the platform, by making use of the technology). Economies of scale around the world can rapidly leverage this evolving network.

The advantage to reaching the optimal point of an “economy of scale” is that the larger the platform grows, the greater the cost savings, both to the producer and the consumer along with embracing evolving digital technologies from time to time.

Platform Business Models are evolving and are growing continuously. Platform-based Companies provide continuous transformation as next-generation technology has increased the rate of change exponentially.

Platforms constitute an external ecosystem in order to grow exponentially within a short span of time. The platform is the host and the ecosystem provides the feedback necessary between the participants to allow thorough communication and continued innovation.

The Innovation Accelerators are:

• Cloud
• Mobility
• Social
• Data Analytics

Platforms are Collaborative (and hence Cohesively Connected):

Technology Platforms do not “own” the means of production, but instead “create” the means of connection via effective communication, which serves as a strategic and interdependent way for consumers and producers to get what they need from each other without a physical intermediary.

Progressive Platforms are efficient and Prosperous Platforms are driven effectively by eliminating trade barriers and providing easier and wider access for all participants, within the Platform Framework. The ecosystem around the platform strives to attain critical efficiencies such as improved productivity, reduced cost and strengthened consumer-producer relationships that foster increased revenue and lead through profits.

Platforms are at the heart of the business process by creating decentralized value chain disruption:

There is extremely limited control of resources once a platform achieves reasonable critical mass thus making the expansion of the platform difficult which becomes more about how to thoughtfully manage the organization and coordinate its capabilities with the least available resources.

Through a decentralized process of iterative feedback and continuous collaboration, the platform and the ecosystem will need to be well integrated so that they can be leveraged to create value and lead to the ultimate goal of reaching economies of scale and thus maximizing the ROI.

Conclusion:

The Platform Economy is thus an Ecosystem of Networks:

No matter whether the network is on the enterprise level or the consumer level, organizations across the globe are embracing new innovative technologies to make their platforms more competitive and easier to use.

A few of the more recent platforms include blockchain, the internet of things (IoT), Learning Language Models and artificial intelligence.

Noticeably, the seemingly simplest transaction such as an online purchase or ordering a ride-share often requires interfacing with multiple intersecting platforms to complete the transaction. It is this wave of interconnectivity that is causing the Platform Economy to grow, expand and thrive at such a rapid rate and a quick pace.

Intrapreneurship is an essential factor for organizational growth as it ensures that a company regularly adapts to new market conditions and thus stands out from the competition introspectively. Intrapreneurship significantly impacts an organization’s profitability and ability to survive, and thrive in the real world.

The intrapreneur identifies himself within this organizational structure, which focuses on agile decision-making and personal responsibility. Thus the team can dedicate itself to one topic in its entirety or become involved holistically within the company.

Possible topic-centred functional areas as individual units are freely selected within an organisation, where-in these units have a small number of members to enable quick reactions and effective exchange.

Communication takes place externally and internally, openly and transparently as all stakeholders are included in feedback loops and contribute towards a common goal.

The organization benefits from digital transformation and the many opportunities it offers for timely communication and exchange.

As a part of digital transformation and being technology innovators making use of learning experience platforms at mPowerO, we are well versed in understanding traditional business models across industries that can be reshaped into platform business models to facilitate accelerated growth, in order to adapt with digital innovation.

Our aim is to facilitate in co-developing the business platform concept together with our clients while we help structure the technology framework that will enable the digital platform to go live in the shortest possible time, hence providing an end-to-end solution that encompasses business and technology, making mPowerO a pioneer and a one-stop shop for our clients’ platform transformation journey.

The digital revolution has brought new network-based value chains and “coopetitive” business models. Traditional, linear value chains with their competitive business models – otherwise known as product-based business models – are striving to/have been replaced by platform-based business models as platform-based businesses are winning & hence thriving with more enhanced visibility and profits.

As the transformation to digitalization continues to evolve, now are exciting times for businesses who want the opportunity to get us there collectively through the implementation of SDGs and allowing us to guide platform privacy, security, and ethical standards.

The platform revolution has opened up myriad new opportunities/challenges in meeting global sustainability goals.

An LXP such as mPowerO, can help you in an end-to-end training development solution, from identifying the right skills to building them while providing an impactful learning experience, across various verticals & industry sectors, for organizations, in order to achieve sustainable growth.

For instance, as the distributed workforce do not have time to learn, they need an OJT platform that is mobile-friendly as they are always on-the-go, to remain on par with the competition and technological evolution.

Upskilling the Frontline workforce with Learning Experiential Platforms (LXP) driven by the latest advanced technologies is crucial to get the most out of this valuable resource. Creating a culture of continuous, interactive learning/training through on-the-job training for the frontline staff via m-Learning with the LXP tool from mPowerO, a frontline workforce enablement solution can help train the frontline and take them to the desired next level, to achieve desired goals.

mPowerO platform can assist in managing the complete lifecycle of a frontline, from onboarding to moving them up the career ladder by empowering them with the right skills and knowledge, with improved performance.

OJT with the right mix of the latest technology via an automated skilling platform creates uninterrupted learning/training and seamlessness in a hybrid work model/environment, thus promoting impactful learning experiences.

An LXP can be a definitive helping hand in providing impactful personalized learning/training experiences in order for the employees to be successful and also the organization.

An LXP powered by the latest AI could further keep up the Frontline workforce up-to-date through micro-learning content merged with AI content recommendations along with an advanced data analytics platform to showcase the outcomes for better learning/training outcomes and learning/training experiences.

For upskilling Your Frontline workforce, mPowerO provides continuous support and is an end-to-end offering to Online Learning Platforms/Solutions, Digital Publishing Solutions, Upskilling/ReSkilling and Skilling training opportunities for medium to large companies.

mPowerO has evolved from being an Online Learning Solution (LMS) to serving as LXP in order to accommodate larger targeted audiences for educational/publishing and skilling requirements of various medium to large organizations/enterprises.

Talk to our expert team members for a deeper understanding and more related information.

Reach out via email at info@mpowero.com or visit us at https://www.mpowero.com/ for more information.

Happy to Help!