Qualcomm Life, a fully owned subsidiary of Qualcomm that focuses on the wireless healthcare marketplace, is on track to create a well-tuned ecosystem to accelerate the adoption of wireless solutions. Wireless healthcare devices will identify problems in patients with chronic diseases earlier and move care to lower cost locations, thereby lowering the cost of care. About ecosystems Ecosystems – a concept appropriated from biology that’s now actively used in business strategy literature and the investment community – are loosely knit networks of organizations that serve to create whole solutions. The network operates through conscious and unconscious collaboration and competition involving the platform company and other organizations using it. Far more than a supply chain, ecosystems also include complementary product and service providers, distributors, government agencies and even customers. For example, Microsoft’s ecosystem includes multiple software and IT-service companies, educators and others that collectively…
Business model innovation starts with challenging hidden assumptions
Impressionist artists were excluded from top official exhibitions because their “fuzzy paintings” did not fit the mold (i.e., set of assumptions) of what constituted great art of its time. So Monet, Van Gogh and others formed their own association, held their own exhibits, and attracted an art dealer who needed to differentiate himself from established art sellers. And that’s how modern art was born. Do these century-old reinvention patterns feel familiar? Treating an assumption as a fact can be very dangerous, as dealers of classical art discovered. Great leaders are willing to unearth hidden assumptions and challenge their validity. Consider the watch industry, at the edge of creative destruction with the explosion of digital communication devices telling time. If you’re like me, a millennial generation parent, you may know that look of disbelief when you ask your child if she’d like a watch…