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API economy - what innovative businesses do differently

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Axway API Strategist, Emmelyn Wang, shares her presentation from APIDays Singpapore 2019.

Learn more at www.Axway.com.

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API economy - what innovative businesses do differently

  1. 1. Hello, Singapore. API Economy What Innovative Businesses Do Differently "From Platform to Ecosystems: how to re-think business in the programmable economy"
  2. 2. Emmelyn ‘emma-leen’ Wang 王兆馨 lifewingmate
  3. 3. “A catalyst is a substance that speeds up the rate of a chemical reaction but is not consumed during the course of the reaction.”
  4. 4. lifewingmate The control and flow patterns of data, functionality, and resources determine how quickly the API shapes the landscape and vice versa. - Emmelyn Wang
  5. 5. Project Program Platform Ecosystem Economy lifewingmate Landscape
  6. 6. Ecosystem = Human + Digital Delicate Balance lifewingmate
  7. 7. Designing for Resilience Contract Consistency Access Predictability Performance Reliability lifewingmate
  8. 8. World's Biggest Data Breaches & Hacks Select losses greater than 30,000 records (updated 1st Feb 2019)
  9. 9. What incentives keep platform members engaged in the ecosystem? Value creation and balance are keys to market position lifewingmate
  10. 10. Platform Strategy HBR | network effects and how businesses respond to them determine platform and ecosystem success Clustering Risk of Disintermediation Vulnerability to Multi-Homing Bridging to Multiple Networks lifewingmate
  11. 11. Clustering lifewingmate
  12. 12. $30 billion health and fitness industry in the U.S. -IHRSA
  13. 13. lifewingmate
  14. 14. Ecosystem Strategy User Acquisition via Platform lifewingmate “ClassPass membership allows customers to hop around different studios and build a workout routine that is anything but, and allowing them to be untethered to one entity … except to ClassPass, of course.”
  15. 15. lifewingmate Mixed Results Brand Value Dilution or Network Effects via On Demand and Variety Overcomes clustering network effects by strengthening global clusters on top of local ones
  16. 16. Ecosystem Strategy User Acquisition via Platform lifewingmate
  17. 17. Ecosystem Strategy Lock Value in the Platform lifewingmate
  18. 18. Ecosystem Strategy Lock Value in the Platform lifewingmate
  19. 19. lifewingmate
  20. 20. The more complete the Platform and Ecosystem experience, the higher the Market Position lifewingmate
  21. 21. Platform Maturity Leads to Healthy Ecosystem Engagement lifewingmate The WeWork ecosystem blends hospitality, community, and service into the coworking and office space business model disrupting the model entirely. Fosters business development from within. Platform Traits Consistency experienced globally, serving locally. Balanced digital onboarding with human interaction. One card. One app. One way. WeWork Labs Nurtures start ups through incubation and acceleration. With founders and organizations from the start as a retention mechanism for the journey as they grow. Supports the Gig Economy and Digital Nomads. Focuses on Creators. In-between and expansion options for enterprises.
  22. 22. Coworking and Office Space Partnerships Social Home Experience Business Networking Social Wellness Experience Business Development Events Creator Community Coding School Labs Incubator Meet Up platform Ecosystem lifewingmate Programs
  23. 23. lifewingmate Afterthought The more mission critical core business use cases are centered around an API, the more thought will be put into the API design. Justified The more a core business stems from the API (internal and/or external), the more thought should be laser focused on API design. Confident The more value the API exposes in a diverse way, the more the business relies on API design and execution as a core advantage. Maturity Digital Businesses that Rely on Platforms to Automate their Economy must focus on API Design as their Core Advantage.
  24. 24. Partner Engagement lifewingmate Relationship Driven | Value Understood | Healthy Digital processes and touch points are reflections of the relationship Both you and your partners understand the vision and long-term value you both bring to each other
  25. 25. Risk of Disintermediation lifewingmate “…network members bypass a hub and connect directly, can be a big problem for any platform that captures value directly from matching or by facilitating transactions.” -HBR Value that can’t be captured by API or platform, offline is potentially lost digitally despite terms & conditions. However, you can capture the value in other ways.
  26. 26. Delicate Balance lifewingmate Due to the low cost nature of using multiple platforms or hubs, companies such as Uber and Lyft must work to overcome this network effect by incentivizing users and service providers. –Summarizing/Paraphrasing HBR Authors Vulnerability to Multi-Homing
  27. 27. Overcome Clustering, Disintermediation, and Multi-Homing Network Effects Unique Incentive Offer value that no other platform does or will Retain value by consistently delivering a high quality experience whether or not you are cross-platform or linked to other ecosystems or economies lifewingmate
  28. 28. Network Bridging lifewingmate Combine the ability to reduce risk and get the most benefit from several network effects for your platform… “As the most successful platforms connect across more and more markets, they’re becoming increasingly effective at tying together industries.” -HBR
  29. 29. How “Think Global, Act Local” typifies the challenge of doing business across the diversity of Asia How do APIs Help?
  30. 30. The Amazon Economy
  31. 31. The Amazon Economy The 7-Eleven Economy Managed distribution for fresh food, order fulfillment, supply chain strategy Franchise model with HQ and 7 Eleven & Holdings tightly coupled with Japanese origins and Tech Partnerships Compete directly with Amazon so use other cloud computing technologies
  32. 32. Key Takeaways What Innovative Businesses Do Differently Unique Incentive Offer value that no other platform does or will Retain value by consistently delivering a high quality experience whether or not you are cross-platform or linked to other ecosystems or economies lifewingmate
  33. 33. Key Takeaways What Innovative Businesses Do Differently Readiness and Incentive Innovative businesses navigate ambidexterity / bimodal IT by finding reuse opportunities and creatively navigating network effects of their platform to enrich their economy lifewingmate
  34. 34. Key Takeaways What Innovative Businesses Do Differently Diverse API and microservices matched with business capability and hybrid enterprise architectures Right types and degrees of engagement during real scenarios digital, secure, productive JTBD Responding to platform challenges and climate changes to level up your business’ ecosystem(s) lifewingmate
  35. 35. lifewingmate Event Driven Architecture Value and Advantages of API Diversity and Decentralization REST-based Architecture HTTP Protocol Request / Response Mature and widely adopted Messaging Protocol Agnostic Publish and subscribe, streaming, as real-time as your business requirements need (or want to discover) Adopted and expertise from OAS / API global community developing best practices, tooling, and support
  36. 36. Talk to me about... lifewingmate
  37. 37. For these scenarios... PartnersIP LicensingLogisticseCommerceERP Global Distribution Digital MarketplaceBig Data lifewingmate
  38. 38. lifewingmate Thank you
  39. 39. WORKS CITED Ecosystem-Based Business Models | Accenture Strategy https://www.accenture.com/us-en/insights/strategy/ecosystem-playbook-agility-growth Welcome to the API Economy https://www.gartner.com/smarterwithgartner/welcome-to-the-api-economy/ The emerging API economy is transforming the way businesses are built and operated | IPG Media Lab https://medium.com/ipg-media-lab/what-is-the-api-economy-and-how-brands-can-benefit-from-it-b46210d0434d Why Some Platforms Thrive and Others Don’t | HBR https://hbr.org/2019/01/why-some-platforms-thrive-and-others-dont Transformation (is not just about) Technology https://hbr.org/2019/03/digital-transformation-is-not-about-technology

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