A leading voice in strategy and business ecosystems, Michael Jacobides, the Sir Donald Gordon Professor of Entrepreneurship and Innovation at London Business School, offers profound insights into how companies can navigate the complexities of the modern digital landscape. [1][2] His work, recognized by Thinkers50 as among the most influential in management thinking, redefines our understanding of competition, collaboration, and value creation in an interconnected world. [1][3]

On Business Ecosystems

  1. On the definition of a business ecosystem: "Ecosystems have been used to refer to absolutely everything, but I think that it's useful when you start looking at collaborating sets of firms that need to come together to create a joint product or service offering." [4]
  2. Ecosystems are not entirely new, but their importance is: "The thing that is new is the extent to which ecosystems are more important than traditional firms are today, and the reason is that you can do new combinations that were not feasible before." [4]
  3. The structure of ecosystems: "Ecosystems are not supply chains — neither are they the total opposite — they are not entirely open so that anyone can come in. They are a strategically managed group of complementors." [4]
  4. The driving force behind ecosystems: "Behind the growth of ecosystem is a change in the way that we organize in our society." [4]
  5. The goal within an ecosystem: "Survival in the business ecosystem requires becoming less replaceable and building differentiability." [5]
  6. On the nature of competition in ecosystems: "Success is as much about helping other firms to innovate as it is about being innovative yourself, and that customer-centric products that cross boundaries will create new firms and new types of competition." [3]
  7. The challenge of ecosystem management: "You can't quite control them, and you also need to understand that they're not going to be the same things that you're used to." [4]
  8. The rise of ecosystems is linked to modularity: "The increase in modularization and the fact that you now have discrete parts that can be recombined in different ways — but also the needs to have some interoperability — means that you have groupings that need to coordinate while they're also independent, in order to add value." [4]
  9. Ecosystems and asset-light business models: "When you see many of these companies, what they do is that they manage to take some positions that occupy the bottlenecks, and they are the connectors between a number of other firms." [4]
  10. The core question for firms in an ecosystem: "The different organization of the sector has a lot to do with who is able to make money and who not." [5]
  11. On creating a successful ecosystem: The first step is to "create something that makes the customer really really happy." [5]
  12. The importance of managing the supply base in an ecosystem: "Apple would never go and buy anything unless it has at least two sources from which it can actually take it." [5]
  13. Ecosystems leverage the capabilities of others: An ecosystem "leverages the energies of others." [5]
  14. The role of a leader in an ecosystem: When you are able to orchestrate other firms and be the one that is matching supply and demand, you can become very rich. [4]
  15. The future is about ecosystems: The rise of platforms and ecosystems is changing how it is possible to add and capture value in various sectors. [6]

On Strategy and Innovation

  1. The academic's role in strategy: "As business academics, our job is to help managers tune into approaching challenges or opportunities — sooner rather than later." [7]
  2. Strategy in a changing world: The only way to cope with our complicated, dynamic and insecure world is to "focus on emerging needs, to strengthen our skills, to run quicker than competition, to look for alliances, to adapt." [5]
  3. The essence of modern strategy: "It's not just about differentiation. it's not just about being better it's about differentiability." [5]
  4. The importance of foresight: "Strategy is about understanding the bottlenecks of tomorrow." (Paraphrased from his general work on strategy bottlenecks). [8]
  5. On strategic transformation with AI: It is crucial to move "From Use Cases to Strategic Transformation" to realize the full potential of technologies like Generative AI. [9]
  6. The need for a new strategic playbook: Firms need to "reshape their strategies and write new 'playscripts'." [5]
  7. The interplay of strategy and technology: The competitive landscape has been transformed by digital technology, and the future holds more changes. [6]
  8. On corporate turnarounds: He explores the management issues that arise when a financially-distressed firm needs a radical change to ensure its survival. [2]
  9. The power of recombination: Innovation often comes from recombining existing elements in new ways, much like Lego bricks. [4]
  10. Innovation is not just about the new: "Have we seen things that operate like ecosystems? Yes, we have. Many of the firms that right now have created their own ecosystems rely on principles that existed in the past." [4]
  11. The link between innovation and industry structure: He studies how innovation can lead to "ripples through the value chain and positional bottlenecks." [8]
  12. On the future of finance: He has researched and written about the issues in re-shaping the financial sector's landscape. [8]
  13. The strategic importance of what not to do: "Designing the Boundaries of the Firm: From ‘Make, Buy or Ally’ to the Dynamic Benefits of Vertical Architecture." [8]
  14. The role of hierarchy: He has explored "The Inherent Limits of Organizational Structure and the Unfulfilled Role of Hierarchy." [8]
  15. On profiting from innovation: It's not just about creating value, but also about "Value Creation, Value Appropriation and the Role of Industry Architectures." [8]

On Value Creation and Capture

  1. The migration of value: A key research interest is to "explore where and why value migrates, how firms can best capture it and how they should respond to the dramatic growth of business ecosystems." [10]
  2. The drivers of value: We need to understand "what are the true drivers of value and the principles by which you can capture value." [5]
  3. Power vs. Profit: "Power Doesn't Always Mean Profit." [7]
  4. Finding where the value lies: "It's not important whether you are a better grower or whether you're a better shipper. it matters whether growing or shipping has the value." [5]
  5. The importance of being indispensable: "Become less replaceable." [5]
  6. The path to capturing value: "Can I find a way of cementing my position by becoming more differentiable rather than by trying to keep people away." [5]
  7. Value in the digital economy: The meteoric growth of a few powerful tech firms has redefined sectors from media to healthcare. [2]
  8. The challenge of value capture in the digital age: The power of Big Tech has raised fears of economic inequity for those operating in their shadow. [2]
  9. The link between value and industry architecture: He examines how "TME [Technology, Media, and Entertainment] Players can Shape and Win Control of their Industry Architecture." [8]
  10. The dynamics of profit evolution: Innovation and competitive setting influence how profit evolves in a value chain. [8]

On Broader Economic and Societal Shifts

  1. The impact of the digital revolution: His research looks at "how the digital revolution reshapes firms, sectors, and ecosystems, and what they can do to respond." [11]
  2. The dissolution of traditional structures: "You have seen the dissolution of the ways that we had structured our economy. We had them in fairly clustered sectors and firms that were insular — and now what you see is the result of both changes and regulation — but also changes in technology." [4]
  3. The impact of COVID-19: He has worked on how COVID-19 is "speeding up structural change." [12]
  4. On the Greek economy: He has written on "The Real Issue with Greece" and "Greece: The Way Forward." [8]
  5. The human element of strategy: He reminds us that we are all "part of an ecosystem" and that these principles apply to our own careers. [5]
  6. The importance of public and private sector collaboration: He has worked with the UK Parliament and the European Council on policy matters. [6]
  7. On environmental and cultural preservation: He serves as a pro bono Strategy Advisor to a leading Greek NGO focused on environmental and cultural preservation. [9]
  8. The need for continuous learning: His career reflects a commitment to lifelong learning, having studied at Athens, Cambridge, Stanford, and Wharton. [1][6]
  9. The intersection of research and practice: "I passionately believe that research and engagement in strategy and policy should go hand in hand." [13]
  10. A personal philosophy: "Like generations before me, I have travelled away to work and learn, and returned with new energy and excitement." [14]

Learn more:

  1. Michael Jacobides: Expert on Business Ecosystems & Innovation. - A-Speakers
  2. Michael G Jacobides | London Business School
  3. Michael Jacobides - Thinkers50
  4. Dispelling the Myths of Ecosystems with Michael Jacobides - BCG Henderson Institute
  5. Creating and Capturing Value in Your Business Ecosystems: Michael G. Jacobides at TEDxThessaloniki - YouTube
  6. GT-Conference Keynote: Michael Jacobides - D ONE | Data Driven Value Creation
  7. Michael G. Jacobides: Professor of Strategy
  8. 1 Michael G. Jacobides R316, London Business School, Sussex Place, Regent's Park, London NW1 4SA, United Kingdom Tel (+44) 20 - INSEAD
  9. Michael G Jacobides From Use Cases to Strategic Transformation: Expectations for GenAI's Impact on Sectoral Dynamics, Business Models, and Competitive Advantage - Stanford Digital Economy Lab
  10. Research - Michael G. Jacobides
  11. Michael G. Jacobides - Boston Consulting Group
  12. Michael Jacobides - Wikipedia
  13. Bio | Michael G. Jacobides
  14. Non-Work Bio | Michael G. Jacobides