Abstract
Technology advances continue to create opportunities to streamline business models. GPS, IoT and Cloud computing enable application development that features greater capabilities. By developing Multi-sided platforms, firms can better balance demand and capacity among buyers, suppliers and partners. Nurturing an asset-light ecosystem enables more direct, efficient and real-time commerce. The following study illustrates a path for growth by an incumbent operator. Balancing user requests versus enterprise capacity while bringing on-stream capital expenditures was never easy. Customer’s dissatisfaction and profit setbacks often occur when consumption, production and fulfilment are out-of-balance until a stable equilibrium is determined. The quest to acquire customers and expand market share is prompting firms to innovate with a strategic digital platform to leverage new capabilities, efficiencies and insights. This paper offers a framework to improve business models that face hardships due to shifting customer preferences, popularity fads and mounting infrastructure investments.
Highlights
The quest to acquire customers and expand market share is prompting firms to innovate with a strategic digital platform to leverage new capabilities, efficiencies and insights
This paper offers a framework to improve business models that face hardships due to shifting customer preferences, popularity fads and mounting infrastructure investments
This study examines building and operating a multi-sided market in a sector which seeks to embrace a range of advances including GPS, Internet of Things (IoT), Cloud, Big Data and analytics
Summary
The article is organized into the following sections: 1) Introduction 2) Literature Review 3) Definition 4) Illustrative Scenario 5) Current State 6) Assumptions 7) Guiding Principles 8) Stakeholders 9) Alternatives 10) Recommendations 11) Action Plan 12) Critical Success Factors 13) Conclusion This study points out an approach for rallying resources and defining the necessary functionality to keep pace and stay relevant. The passenger and tenant are motivated to behave so as to continue to enjoy cheaper, faster, and better services” [1] For such sectors, business models are being re-invented and experimented, with a goal to retain hard-fought customers and producers. This study examines building and operating a multi-sided market in a sector which seeks to embrace a range of advances including GPS, IoT, Cloud, Big Data and analytics
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