How Can CIOs Capture the Value of a Digital Ecosystem?

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Today, organizations demand more than simple business-to-business interactions. They require flexible, affordable, and robust IT services for personalized customer experiences and higher employee productivity. Building a digital ecosystem plays a crucial role. COVID-19 has amplified the significance of digital interactions. Therefore, most global companies are implementing the ecosystem business model to grow the core business, expand the network and portfolio, and generate revenue from new products and services. In this article at The Enterprisers Project, Carla Rudder explains how industry-leading CIOs are driving innovation and positioning their organizations for success.

How Does a Digital Ecosystem Work?

A digital ecosystem is about integrating tools and technologies to increase business performance and deliver value to consumers. To build a thriving ecosystem strategy, chief information officers (CIOs) must unify organizational silos, embrace new tools and systems, and collaborate with new partners.

How Can CIOs Build an Ecosystem Model?

As a CIO, you are positioned to unlock innovation and generate value for your company. Remember, while building an ecosystem strategy, the road to success is full of uncertainty. Therefore, embrace and learn from failures.

Here are a few steps you must take to build a robust ecosystem strategy:

Create a culture where everyone feels seen, heard, connected, and supported.Navigate the new digital ecosystem by collaborating and co-creating with customers, vendors, and competitors.Develop training programs at all levels of your organization to educate your employees about the technology and its costs.Encourage your teams to cultivate a growth mindset and foster hands-on culture of experimentation.Promote diversity, equality, and inclusion to leverage the wealth of unique perspectives, earn deeper trust, and commitment from employees.Use agile approaches to create new digital products, services, and business processes.

Building ecosystems has become a requirement—not an option—for every organization, and CIOs must play a crucial role. To read the original article, click on https://enterprisersproject.com/article/2022/6/cio-advice-lead-todays-digital-ecosystem.

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