Platform business models

Empowering Women: Crafting a Mentorship Platform’s Future Business Model

Business models, Business strategy /

By the Numbers: Highlighting the Problem of Gender Disparity in the Workplace for Women In the European Union, the gender pay gap stands at a striking 12.7%, highlighting the undervaluing of sectors dominated by female workers. In fact, 60% of manager-level positions are held by men, leaving women to fill the remaining 40%? This imbalance at the managerial rung is a critical barrier to women’s progression to senior roles​​. Moreover, women’s professional networks are often less robust than their male counterparts. For instance, in the Netherlands, women are reported to be 35% less likely than men to possess a strong and diverse network. This disadvantage is not localized but global, with women worldwide being up to 38% less likely to have a stable network—a factor crucial for career development and opportunities. One of the most effective tools at our disposal to level the playing field is mentorship. Extensive research, incluing the Women in the Workplace 2023 Report, proves that effective mentoring can catalyze change, equipping women with the confidence, skills, and networks needed to navigate and succeed in a challenging corporate environment. Power of Mentoring: A Pathway to Equity and Success for Women in the Professional Sphere Mentoring has emerged as a powerful tool for addressing inequality and bridging the gender gap in the workplace. Mentoring is vital for women’s advancement and empowerment in the professional world, with best-case outcomes leading to increased retention and promotions for underrepresented groups. In fact, women with mentors were promoted five times more than their non-mentored peers. Additionally, the retention rate of women post-mentoring increased by 15 to 38 percent. Mentoring provides women with both psychological support and practical skills, fostering invaluable networks that enhance their longevity and success in the workplace. One of the fundamental ways mentoring empowers women is by increasing their confidence and self-esteem. It can provide support, guidance, and constructive feedback that help women recognize their worth and take on new challenges with confidence. Mentoring also helps women develop hard and soft skills, such as project management and leadership abilities, leading to women’s personal as well as professional growth and breaking through barriers. Additionally, mentoring facilitates the creation of supportive networks, introducing women to key contacts and opportunities for networking within their industries, ultimately enhancing their visibility and paving the way for career advancement. However, despite their effectiveness, the true impact of mentoring remains largely overlooked by organizations. Shockingly, 63% of women in the global workplace have never experienced formal mentorship. Organizations must recognize the significance of mentoring in promoting gender equality and empowering women, which ultimately can also lead to business growth. Advancing mentoring for women through the #itoo platform #itoo is an innovative online mentoring platform designed to foster connections, support, and guidance among women. It empowers women to effortlessly connect with mentors for tailored support and opportunities, nurturing both personal and professional growth. The platform’s primary objective is to empower women through mentoring, elevating their visibility and significance in the workplace. Here’s how it works: Women can sign up as either mentors or mentees. Mentors specify the skills or qualities they can offer, while mentees identify the areas in which they seek guidance and improvement. Utilizing an algorithm, #itoo matches mentees with mentors who possess relevant experiences, expertise, and aspirations, facilitating transformative learning and professional development journeys. Through analytics capabilities, #itoo ensures personalized mentoring connections. #itoo stands out as a unique algorithm-powered platform, delivering optimal and personalized experiences for women, thereby transforming businesses with enhanced data-driven interactive employee support. By fostering genuine connections and facilitating knowledge exchange, #itoo cultivates a thriving community of empowered women who inspire each other to achieve their fullest potential. Ultimately, it also benefits organizations in numerous ways. It offers businesses a valuable tool to enhance operations and foster success, facilitates the attraction and retention of highly skilled female workforce, boosts representation, and delivers various other advantages. The Value Department is currently guiding #itoo through its realization, having already assisted in analyzing its current business models and charting its future direction to identify new opportunities. If you’re ready to unlock the potential and empower the futures of women together, stay tuned to our LinkedIn and website for updates on #itoo! Are you also in need of exploring your future business models and making a positive impact on the world? Reach out, your next opportunity is one call away. Image made using Dall.E

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The Power of Digital Platforms for Sustainable Growth

Business models, Business strategy, Platforms /

In a world where digital transformation is no longer an option but a necessity, businesses are increasingly turning towards digital platforms to foster sustainable growth. The unprecedented challenges posed by the COVID-19 pandemic have further accelerated the adoption of digital platforms as they have emerged as a lifeline for businesses to stay afloat in a sea of uncertainties. However, the potential of digital platforms extends far beyond just ensuring business continuity. They play a crucial role in driving sustainable growth by enabling businesses to operate more efficiently, innovate more rapidly, and create positive social and environmental impacts. Efficiency and Innovation   Digital platforms facilitate efficiency by automating repetitive tasks, optimizing supply chains, and enhancing data analytics. For example, a cloud-based supply chain platform can enable a business to optimize its inventory levels, reduce waste, and minimize transportation costs, all of which contribute to a more efficient operation. Moreover, digital platforms foster innovation by providing a space for collaboration, knowledge sharing, and the development of new solutions. Digital platforms enable innovators and developers worldwide to collaborate on use cases, driving innovation and creating shared value. Positive Social and Environmental Impacts   Digital platforms facilitate the creation of sustainable and circular business models by optimizing supply chains, promoting the sharing, reusing, and recycling of products and materials, enabling the development of sustainable products and services, enhancing transparency and traceability, and fostering collaboration among stakeholders. Leveraging digital technologies helps in reducing waste, minimizing transportation costs, ensuring ethical production, and creating value for all stakeholders, thereby contributing to a more sustainable future. Challenges and Considerations   While the potential of digital platforms to contribute to sustainable growth is immense, there are several challenges and considerations that need to be addressed. First and foremost, there is a need for a robust digital infrastructure to ensure that digital platforms are accessible to all. Secondly, there is a need for proper regulation and governance to ensure that digital platforms operate ethically and responsibly. Finally, there is a need for businesses to adopt a holistic approach towards sustainability, considering not only the economic but also the social and environmental aspects of their operations. Way forward: revolutionizing the Circular Economy enabled by technology   Digital platforms have revolutionized our approach to business, making it possible for companies to tap into new markets, cut expenses, foster innovation, and gain a competitive edge. Nonetheless, for the advantages of digital transformation to be distributed fairly and sustainably, it is imperative that businesses and governments collaborate to establish a conducive environment that promotes innovation, digital infrastructure, and sustainable practices.  Blockchain is a technology that can cater for this. Revolutionizing Sustainability: How Blockchain is Fueling the Circular Economy   At “TheNTWK summit 2023 (a collective knowledge and expertise ecosystem event of 350+ digital business innovators from 21 countries). “The Value Department presented an interactive workshop designed to delve deep into the potential of blockchain technology as a tool for driving sustainable development and promoting the circular economy. Our colleague Bob Gravestijn crafted the attached booklet for everyone who’s interested to be better equipped to understand the transformative potential of blockchain technology in fostering a more sustainable and circular economy. By reading the booklet you’ll also gain insights into how businesses, governments, and other stakeholders can collaborate to leverage this technology to drive sustainable development. View our booklet here! Reach out to explore the power of blockchain technology and platforms in revolutionizing sustainability and promoting a circular economy. Together, let’s collaborate to drive sustainable development and create a better future for all.

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How to lay the foundation for resilient digital platforms and innovative ecosystems with great governance

Business models, Governance, Platforms /

Globally, we are witnessing the rise of platform-based business models that capture and use data to create value for all participants. From Airbnb, Uber and Lyft to WeChat in China and Amazon Web Services, platforms are reshaping industries by creating new relationships between companies, consumers or suppliers. However, many platforms fail because they do not consider the legal framework that governs them. In particular, a successful platform requires clear rules about how key stakeholders interact with each other — rules that must be put in place at the outset of any digital transformation effort. Leaders who want to create a platform that creates value for all participants. If you’re a leader who wants to create a platform that creates value for all participants, there are some things you should know about the dynamics of platforms and ecosystems. It’s true that platforms can be powerful instruments for creating value. But they don’t just happen; they require deliberate effort and management by the company at the center of them. Platforms are not passive systems that work themselves out; rather, they require active leadership to shape how they develop over time. And while this might seem like common sense on its face, many executives still think of their companies as “platforms” simply because they offer products or services through third parties (and sometimes even own those third parties). Organizations in industries facing digital disruption. Organizations in industries facing digital disruption will be challenged to re-imagine their business models and approach to innovation. These organizations need to be able to scale up and down quickly, adapt quickly to changing circumstances, and change their business model. A good starting point for managing the complexity of such an ecosystem is the design of a good governance framework. Platforms that operate through partner networks. Platforms that operate through partner networks are the most common type of platform. They’re characterized by a marketplace or network of partners providing goods, services or resources to consumers (or between other partners). Examples include: Airbnb (rental accommodations) Uber and Lyft (transportation) OpenTable (restaurant reservations) These platforms are complex because they require multiple parties—the platform, service providers and customers all need to interact with each other in order for the business model to work. Successful management is dependent upon establishing clear responsibilities for all parties involved in order to ensure transactions occur seamlessly. Companies looking to develop ecosystems of value-added services. As you consider how to lay the foundation for resilient digital platforms and innovative ecosystems with great governance, here are some questions to ask yourself: Are we creating value for all participants? Do we operate through partner networks? Are we looking to develop ecosystems of value-added services? Put the right rules in place to orchestrate a platform that creates value for all participants — and helps manage risk. The initial step in governance is to build the right rules. Governance is about how you make decisions, not what decisions you make. It’s about how you manage risk and uncertainty, not about eliminating them altogether. It’s also about ensuring that you have the right systems in place to orchestrate a platform that creates value for all participants — and helps manage risk. But what does “the right rules” mean? What are they? How do they work? We’ll explore these questions next week at BSCA’s Big impact – a recurring event with discussions on topics on everybody’s lips.  Conclusion The governance of platforms is a critical component of success. It’s easy to see how the lack of clear rules can lead to confusion and conflict, but it’s also important not to make things too rigid. Creating a platform where everyone is working together toward a common goal requires flexibility and good communication. In short, if you want your digital platform to be successful, then it needs great governance! Start something new. Grow your business or brand. A better way to do business. Work with us. We can show you the way. We’ll be your digital companion. Be part of tomorrow. #platform #ecosystem #governance #businessmodel #digitaltransformation #innovation #platformcooperation #platformcoopetition #collaboration #community

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Platform business models: facts and myths

Business models, Business strategy /

Let’s start with some easy facts: According to the European Commission, “1 million EU businesses are already selling goods and services via online platforms, and more than 50% of small and medium enterprises selling through online marketplaces sell cross-border”. This number is only expected to increase, disrupting more sectors each year. Out of Interbrand’s top 20 Best Global Brands in 2022, 13 function as platform businesses. A platform business is a matchmaker, facilitating a means of connection, often between demand-side and supply-side parties. Compare this to 10 years ago in 2012, when only 7 out of this list were platform businesses. For now, we’ll tell you a bit more about several myths surrounding platform business models, as not all these myths are true. Let’s bust some common myths:   #1: Platform business models are not just startups Platform business models are really nothing new. Take a look at eBay and Amazon, to name just two examples. Both are over 25 years old. Even before the founding of these companies, we had traditional marketplaces and shopping malls. These places similarly facilitate a connection between multiple parties. We have, however, begun to think differently about platform business models, and how we can leverage such a business model through technological industry disruption.     #2: Platform business models are not only small This myth could not be further from the truth. Some platforms are indeed small, but take a look at Airbnb, Facebook, Etsy and Paypal. These are only a handful of multi-million-dollar businesses that operate under a platform business model. Platform business models truly come in all shapes and sizes.   #3: Platform business models are not only digital businesses A platform business model isn’t synonymous to a digital business. Most of the time when people refer to platform business models, they refer to a digital business. However, bringing back previously mentioned examples, a traditional Saturday morning marketplace in your local village, or a shopping mall, are both places where buyers and sellers can come together and connect. Most platforms are digital but being digital is not a prerequisite to being a platform business.   #4: Platform business models do not only facilitate an interaction between two parties A platform business model can enable interactions between two or more sides. Think of Facebook, for example. Facebook offers its services to billions of users who interact with each other ‘for free’ (yes, it’s true: “if you’re not paying for the product, then you are the product” as quoted by Tristan Harris – but that’s another story). Facebook makes money by allowing third parties to advertise. This simple scenario illustrates that there can be more than two sides involved on a platform.   #5: Platform business models are not only American Booking.com and Adyen are Dutch. Alibaba and TikTok are Chinese. BlaBlaCar is French. Deliveroo is British. Fiverr is Israeli. And the list goes on and on!   One last undeniable truth… A (digital) platform strategy is extremely complex, and success doesn’t come easy. Not only do these platforms need to have a firm understanding of their industry, but they also need to consider the dynamic interactions of a multi-layered business ecosystem. A platform needs to continuously deliver added value to all parties involved (shareholders, consumers, producers and partners). If you don’t add value and stand out, you’ll get disintermediated. Want to know more about navigating a complex digital platform strategy? Get in touch!    

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