From the invention of the Gutenberg printing press to the rise of the steam engine; the development of new technologies and trends has been instrumental in shaping the world’s businesses opportunities.
Today, the increasing sophistication of IT services – helped immeasurably by the adoption of cloud computing and explosion in data volumes – is just the latest technology to create new commercial models. In particular, we are now seeing a rise in multi-sided markets.
A New Way of Operating
Unlike the traditional, one-sided approach – in which an organisation serves one set of customers – a multi sided market comprises numerous groups of stakeholders within a single ecosystem, all with their own distinct agendas. Importantly, this model requires interdependence, with everyone involved playing a critical role. eBay is a good example, using its trading platform to connect one set … Continue reading ...