Today, society is becoming more digital and intelligent. Systems used in industries today are also becoming more complex. The latest technologies like big data, Internet of Things (IoT), mobility, and cloud services are advancing rapidly, and are enabling more connections and interactions among enterprises and industries. As a result, new operating models and business models are emerging every day. To benefit from the trend of digital transformation, enterprises need to transform their IT infrastructure and organizations at a fundamental level. Industry boundaries are continuously expanding. These developments are also reshaping the business ecosystems they rely on.
Traditionally, the business ecosystem is linear. From suppliers, manufacturers, to distributors and customers, they form a unidirectional supply chain. However, the digital transformation shakes up the system and changes the roles of industry players. Industries are now overlapping each other, which makes for a more complicated ecosystem environment.
John Deere started his company in 1837. At the beginning, this agricultural machinery company only sold products to farmers. Today, the company is using wireless connectivity, cloud computing, and big data to provide a wide range of agriculture management solutions covering meteorological data, seed selection, and irrigation. The company has established a comprehensive digital ecosystem that supports business development.
In the ecosystem, digitization and connectivity make real-time monitoring of equipment possible, improving the efficiency and reliability of operations. Sensors deployed on farms gather important agricultural information that helps guide farmers in sowing, fertilization, and harvesting. The remote information management platform helps support the decision-making process. John Deere is now the world's largest supplier of agricultural machinery, industrial equipment, forestry equipment, and agricultural management solutions. The company even has business in credit cards, healthcare, and specialized technology, which has enlarged its ecosystems and created greater shared value among its partners.
If you also run an enterprise supplying agricultural machinery solutions, how do you compete with John Deere in the market?
In the future intelligent world, an enterprise will be unable to compete in the market on its own. It will be necessary to join ecosystems in order to survive and prosper. From transportation, finance, energy to education and healthcare, the business environment in almost every industry is becoming more complicated. With the convergence of industries and changes in consumer demands, enterprises need to become more open and flexible. They also need to choose sustainable ecosystems in order to establish long-term competitiveness.