NEW ONLINE PROGRAM in collaboration with the MIT Initiative on the Digital Economy (IDE)
The two-sided networked market is one of the most important economic and social developments of our time. What companies and industries are most affected by these platform approaches? Why is the change to network markets happening now? And, what can your company do to adapt and thrive? This digital, four-week program is designed for managers, executives, investors, and entrepreneurs interested in creating, managing, or understanding business platforms.
Note: This course is not eligible as a "program" towards the MIT Sloan Executive Certificate four program requirement but does count as one "program day" towards the Advanced Certificate for Executives (ACE).
The ranks of today?s most valuable companies are increasingly populated with those that successfully build and control platforms?the digitized, open, and participative business models creating commercially connected ecosystems of producers and consumers. The networks and markets forming around and orchestrated by companies like Google, Airbnb, Uber, and other virtual exchange enterprises are altering the structure of major industries and transforming familiar business processes, such as value creation and consumer behavior.
The ability to leverage platforms is no longer restricted to Internet upstarts. If your firm can use either information or community to add value to what it sells, then there is potential to create a viable platform for your business?or even a platform revolution in your industry. Those who understand the new business model can begin building tomorrow?s platforms in a way that leverages existing assets to create new forms of growth and value.
Platform Revolution: Making Networked Markets Work for You (online) is a new, four-week program that introduces participants to the many ways networked markets are transforming the economy and provides strategies for designing, monetizing, and launching a digital platform. Combining rigorous theory with real-world experience, this program is presented as a digital toolkit of weekly live webinars, recorded video lessons, presentations, and exercises released weekly that you can access however and wherever works best for you. Topics include platform startup, converting existing businesses, openness, network effects, innovation, cannibalization, pricing, governance, and competition.
This innovative program is taught by Geoffrey Parker, Research Fellow at MIT Sloan and the Initiative for the Digital Economy (IDE) at MIT.
Each week of the program will approach the platform revolution from a unique angle. Program modules and webinars will emphasize practical approaches and draw from social media, healthcare, entrepreneurship, enterprise software, mobile services, and consumer products to provide foundations and definitions. This course will also demonstrate established economic principles from the literature on industrial organization, two-sided network effects, information asymmetry, pricing, and game theory.