Platform Strategies

In this chapter, we shift our focus to the concept of platforms, which integrate digital technologies to enable a business model that has become ubiquitous in today’s economy. Building on earlier chapters discussing technology ( Chapters 6–8 ) and business model innovation ( Chapter 4 ), this chapter will explore how platforms have reshaped industries, governance, and societal interactions. We will begin by tracing the history of the sharing economy, which laid the groundwork for platform-based businesses. Next, we will examine the evolution and classification of platforms, differentiating between various types, including Multisided Platforms (MSPs) that facilitate interactions between distinct user groups. The chapter will also highlight the distinction between platform-native organisations, and traditional firms that have transitioned into platform models. Towards the end of the chapter, we will address the leadership challenges and risks associated with managing platform businesses.