The team continues last episode’s discussion about the fight between two professional golf tours and the profound strategy lessons from it. Their analysis looks at how the PGA and LIV Tours demonstrate closed and open ecosystems, and how these approaches affect different industries.
The PGA is closing its doors to players who choose to take the money from the LIV Tour, while the LIV Tour has no such requirements. Mary, Sean and Tom discuss how companies in B2B industries must similarly decide whether to be a closed or open ecosystem, and the challenges that come with those decisions.
In this episode, you will learn:
- Why a closed ecosystem is usually less successful than an open one
- How to take a hard look at your capabilities in determining how to broaden your offer
- Reasons you might choose to operate either type of ecosystem
Here are some quotes from the team’s discussion:
- “Many of our B2B clients are now deciding whether to be closed or open.”
- “A closed ecosystem is becoming rare – companies like Apple and Schlumberger ”
- “It seems intuitive to protect your own market by making it exclusive. But it’s flawed.”
We hope you enjoy the discussion and gain some helpful insights.