Creating and Capturing Value in Your Business Ecosystems: Michael G. Jacobides at TEDxThessaloniki

Summary

El guion explora la creación y captura de valor en ecosistemas de negocios, ilustrando con ejemplos de vinos, café y tecnología. Se destaca la importancia de la diferenciación y la capacidad de reemplazo en la asignación de valor, y cómo las empresas como Apple y Toyota han logrado liderar sus respectivos mercados. Al final, se insta a los oyentes a reflexionar sobre su papel en los ecosistemas y cómo pueden contribuir a la creación de valor en sus vidas y carreras.

Takeaways

• 🍷 La importancia de la simbiosis y los ecosistemas de negocios en la creación y captura de valor.
• 🏰 Los vinos de Bordeaux y su reputación legendaria, contrastando con los vinos portugueses y sus nombres británicos.
• 🇫🇷 La diferencia entre los productores franceses de vinos y los transportistas portugueses y cómo影响了 la distribución de ganancias.
• 🛳️ La historia de la Guerra de Napoleón y cómo afectó el comercio de vinos, dando lugar a la dominancia de las casas británicas en el transporte de vinos portugueses.
• 📊 La lucha por la garantía de calidad y la diferenciación en el mercado de vinos, con la intervención de Napoleón III y la clasificación de los vinos de Bordeaux.
• 🌐 La evolución de los ecosistemas de negocios a lo largo del tiempo, con ejemplos de la industria del automóvil y la computadora.
• 📱 El impacto de los dispositivos como el iPhone en la creación de nuevos ecosistemas y la integración de múltiples actores para la creación de valor.
• 💡 La importancia de la diferenciación y la capacidad de reemplazo en la determinación de quién captura el valor en un ecosistema de negocios.
• 🚗 La estrategia de los fabricantes de automóviles para mantener el valor a través de la diferenciación y la asunción de responsabilidades legales.
• 🌐 La relevancia de la creación de valor antes que la captura de valor, y cómo la tecnología y la competencia están cambiando la dinámica de los ecosistemas de negocios.

Q & A

¿Qué es la simbiosis en el contexto de los ecosistemas de negocios?

La simbiosis en los ecosistemas de negocios se refiere a la relación interdependiente y beneficiosa entre diferentes actores dentro de un sistema, donde cada uno aporta algo al sistema y obtiene beneficios a cambio, creando y capturando valor de manera conjunta.

¿Por qué los vinos portugueses tienen nombres británicos?

Los vinos portugueses tienen nombres británicos porque las casas británicas fueron las encargadas de comercializar y certificar la calidad del vino, lo que les permitió obtener una posición dominante en la captura de valor en el sector del vino portugués.

¿Qué papel jugó Napoleón Bonaparte en la historia del comercio de vinos?

Napoleón Bonaparte, al estar en guerra con Portugal, causó una escasez de vinos franceses en el mercado británico. Esto llevó a que las casas británicas se especializaran en el comercio de vinos portugueses, lo que les permitió establecer su influencia y control en el sector.

¿Qué significa la 'guaranteeing' en el contexto de los vinos y cómo influye en la captura de valor?

La 'guaranteeing' en el contexto de los vinos se refiere a la capacidad de ciertos actores para certificar y garantizar la calidad de un vino, lo que les da poder en la percepción del consumidor y, por ende, en la captura de valor dentro del mercado.

¿Cómo cambió la distribución de la rentabilidad en el sector informático desde los años 80 hasta 2005?

Desde los años 80 hasta 2005, la distribución de la rentabilidad en el sector informático evolucionó significativamente, con una transferencia de valor de los fabricantes de computadoras integradas a las empresas de software y componentes, como se evidencia en el aumento de la participación de mercado de compañías como Microsoft e Intel.

¿Qué es la 'differentiability' y cómo afecta la creación de valor en los ecosistemas de negocios?

La 'differentiability' se refiere a la capacidad de un producto o servicio para diferenciarse en el mercado y ser percibido como único o superior por los consumidores. Esto es crucial para la creación de valor ya que permite a las empresas establecerse como líderes en su sector y capturar una mayor proporción de la rentabilidad.

¿Qué principios guían la captura de valor en los ecosistemas de negocios según el discurso?

Los principios que guían la captura de valor en los ecosistemas de negocios son la differentiability, la relative replaceability y la gestión estratégica de la oferta. Estos principios ayudan a las empresas a posicionarse de manera que puedan capturar una mayor parte de la rentabilidad del sistema.

¿Cómo Apple utiliza la 'relative replaceability' para mantener su posición en el mercado?

Apple maneja la 'relative replaceability' al diversificar sus fuentes de suministro y al crear productos que son difíciles de reemplazar por competidores. Esto les permite mantener una posición central y rentable en su ecosistema de negocios.

¿Qué importancia tiene la aceptación de la responsabilidad en la percepción de confianza por parte de los consumidores?

La aceptación de la responsabilidad es crucial para la percepción de confianza por parte de los consumidores, ya que demuestra la seriedad y compromiso de una empresa con la calidad de sus productos y servicios. Esto es especialmente relevante en sectores donde la seguridad y la confiabilidad son factores clave, como en el caso de los fabricantes de automóviles.

¿Cómo la tecnología y la competencia están transformando los ecosistemas de negocios actuales?

La tecnología y la competencia están transformando los ecosistemas de negocios al permitir la creación de nuevos productos y servicios, así como la formación de nuevas configuraciones de actores que generan y capturan valor de manera más eficiente y dinámica.

Outlines

00:00

🍷 Ecosystemas de negocios y el valor de los vinos

El primer párrafo introduce el concepto de ecosistemas de negocios y la creación y captura de valor dentro de estos. A través de la analogía de los vinos de Bordeaux y los vinos de postre portugueses, se explora cómo los nombres y la reputación de ciertos vinos están influenciados por las dinámicas de mercado y la historia. Se menciona la diferencia entre los productores de vinos franceses y los comerciantes portugueses y cómo la historia, en particular la guerra de Napoleón, ha influido en la distribución y la percepción de la calidad de los vinos. El punto central es que los ecosistemas de negocios, como el del vino, pueden verse afectados por factores históricos y geográficos, y que la captura de valor puede estar en manos de diferentes actores dentro de la cadena de valor.

05:02

🏆 La clasificación de vinos y la garantía de calidad

Este párrafo se centra en cómo la garantía de calidad y la percepción del consumidor influyen en la distribución del valor en los ecosistemas de negocios. Se relata la historia de cómo, tras la Guerra de la Independencia de los Estados Unidos, se estableció una clasificación rígida de vinos en Bordeaux para convencer a los consumidores de la importancia de la región de origen. Se contrasta con la situación en el sector del café, donde los productores en países como Etiopía reciben una fracción mínima del valor total del café que se vende en el mercado. El párrafo subraya la importancia de la diferenciación y la capacidad de garantizar la calidad como factores clave para capturar valor en los mercados.

10:03

📱 El iPhone como ejemplo de un ecosistema tecnológico

El tercer párrafo utiliza el iPhone como ejemplo de un producto que no solo es un dispositivo sino también el núcleo de un ecosistema tecnológico más amplio. Se explica cómo Apple, al diseñar un producto que proporciona gran valor al consumidor, ha logrado dominar su ecosistema, no solo al crear un producto deseable sino también al gestionar inteligentemente su cadena de suministro y asegurarse de que haya múltiples fuentes para cada componente. Se destaca la importancia de la 'diferenciación' y la 'sustitutibilidad relativa' como principios clave para la creación y captura de valor en los ecosistemas modernos.

15:04

🚗 La industria automotriz y la conservación del valor

Este párrafo explora cómo la industria automotriz ha logrado mantener el valor a pesar de la gran cantidad de actividades que se han externalizado a proveedores. Se menciona que los fabricantes de automóviles son responsables de solo un 25% del valor añadido del vehículo, pero han logrado mantener la mayoría del valor a través de la diferenciación y asumiendo la responsabilidad legal por los productos finales. Se argumenta que esta estrategia ha permitido a los fabricantes de automóviles mantener el control de su ecosistema y la confianza del consumidor a largo plazo.

20:08

🌐 Creación y captura de valor en la sociedad moderna

El último párrafo aboga por la importancia de enfocar la creación de valor antes que la captura de valor. Se sugiere que la mentalidad de captura de valor a menudo se basa en exclusiones y no en la mejora de la sociedad. Se hace un llamado a la acción para que las personas piensen en cómo pueden aplicar principios de creación y captura de valor en sus propias vidas y en sus organizaciones, enfocándose en la innovación y la mejora continua. Se insta a la reflexión sobre cómo los individuos y las empresas pueden ser parte de la solución para crear un mundo mejor, en lugar de simplemente observar cómo otros lo hacen.

Keywords

💡Simbiosis

La simbiosis se refiere a la relación mutuamente beneficiosa entre dos organismos de especies diferentes. En el video, se utiliza para introducir el concepto de ecosistemas de negocios, donde diferentes actores trabajan juntos para crear y capturar valor. El ejemplo de los vinos de Bordeaux y elporto ilustra cómo las relaciones históricas y comerciales han moldeado quién captura el valor en la cadena de valor del vino.

💡Ecosistemas de negocios

Los ecosistemas de negocios son redes de empresas, tecnologías, personas y recursos que interactúan para crear valor en el mercado. El video discute cómo los ecosistemas de negocios han evolucionado y cómo los actores dentro de estos ecosistemas pueden influir en la creación y captura de valor, como se ve en los ejemplos de los vinos y la industria del automóvil.

💡Valor

El valor en un ecosistema de negocios se refiere a la utilidad y la satisfacción que un producto o servicio proporciona a los consumidores. El video explora cómo diferentes actores, como los productores de vinos, los importadores y las grandes tiendas, buscan crear y capturar valor a través de la diferenciación y la garantía de calidad.

💡Captura de valor

La captura de valor es el proceso por el cual los actores de un ecosistema de negocios obtienen una porción del valor total creado. El video destaca cómo la posición en el ecosistema, la capacidad para diferenciarse y la gestión de la cadena de suministro son claves para la captura de valor, como lo demuestran las estrategias de Apple y las grandes tiendas.

💡Diferenciación

La diferenciación es la habilidad de un producto o servicio para ser percibido como único y valioso por los consumidores. En el video, se argumenta que la diferenciación es crucial para la creación de valor y la captura de valor, ya que permite a las empresas como Apple y Toyota establecerse como líderes en sus respectivos mercados.

💡Suministro

La gestión del suministro es la administración de la red de proveedores y recursos que contribuyen a la producción de un producto. El video menciona cómo las empresas como Apple y Toyota manejan estratégicamente su suministro para asegurar la calidad y la confiabilidad de sus productos, lo que a su vez aumenta su capacidad para capturar valor.

💡Reemplazabilidad

La reemplazabilidad se refiere a la facilidad con la que un proveedor o un componente puede ser sustituido por otro en la cadena de suministro. El video discute cómo la reducción de la reemplazabilidad es esencial para la captura de valor, ya que permite a las empresas mantener su posición en el mercado y maximizar sus ingresos.

💡Innovación

La innovación es el proceso de introducir nuevos productos, procesos o ideas que mejoran o transforman un mercado. El video sugiere que la innovación es esencial para la creación de valor en los ecosistemas de negocios modernos, ya que permite a las empresas diferenciarse y satisfacer las necesidades cambiantes de los consumidores.

💡Competencia

La competencia es la rivalidad entre empresas o individuos para obtener una ventaja en el mercado. El video argumenta que la competencia es un motor clave para la creación de valor, ya que fomenta la innovación y la mejora continua, permitiendo a los ecosistemas de negocios evolucionar y adaptarse a los cambios del mercado.

💡Tecnología

La tecnología es la aplicación de conocimiento científico para desarrollar herramientas, procesos y sistemas que mejoran la vida humana. En el video, se destaca cómo la tecnología, especialmente en la industria de la computación y los dispositivos móviles, ha transformado los ecosistemas de negocios y ha permitido la creación de nuevos productos y servicios que capturan valor.

Highlights

Symbiosis and business ecosystems are introduced as key concepts for creating and capturing value.

The importance of understanding ecosystems in various industries, such as wine and coffee, is emphasized.

The historical context of the wine industry, particularly the role of British shippers in the Portuguese wine market, is discussed.

The impact of Napoleon Bonaparte on the wine trade and the establishment of British dominance in the Portuguese wine market is highlighted.

The concept of 'differentiability' in products and its influence on consumer perception and market value is explained.

The strategic importance of controlling the supply chain and the principle of 'relative replaceability' in value capture is presented.

The evolution of the computing sector and the shift in market capitalization from hardware to software and semiconductors is analyzed.

The role of legal liability in maintaining control over the supply chain and value capture in the automotive industry is discussed.

The example of Apple's iPhone and its ecosystem, illustrating the interdependence of various actors in value creation.

The significance of creating value through product differentiation and the strategic management of the supply base is underlined.

The idea that value creation should precede value capture and the importance of not focusing solely on dividing the existing pie.

The concept of the 'toothbrush test' used by Google to ensure products are integral to consumers' daily routines.

The call to action for individuals and firms to consider their role in ecosystems and to prioritize value creation.

The importance of accepting short-term pain for long-term gain, as demonstrated by companies like Tesco and Toyota.

The conclusion that emphasizes thinking about value creation first and then division, to contribute to a better world.

Transcripts

since we're speaking about symbiosis

what I'd like to do is to speak about

ecosystems about business ecosystems

about creating and capturing value in

business ecosystems and of course that's

what I'd won't say because I'm a

Business School professor and at this

time of the afternoon you might want

some light affair so let me back up a

little bit and let me speak about wine

now let me give you a blank check and

say that you can go and buy some great

wine and you're looking at a wine shop

you want to get some good red and you're

going to the wines of Bordeaux and you

can think about the great names of the

French wines names like Chateau Petrus

or Chateau Margaux that have legendary

reputations and also steep prices now

then you'd like to also take something

for a dessert one so you're thinking

about some good vintage port this great

sweet wine that's made in Portugal and

you're looking around trying to see what

are the good port wines that you can get

the names are Sandman's downs warez

Taylor and floodgate which is kind of

strange because on the one hand French

names for good French wines but if you

think about the Portuguese wines they

all have British names the question is

why why is it that the names of the

Portuguese wines are British and it is

the British houses that are able to make

money on the wines that are being sold

well I'll tell you why it has to do with

the fact that these guys are shippers

the French guys are growers they are the

ones that have the grapes and turn them

into one you can go and you see the

shadows whereas the Portuguese ones are

shippers and the question is why well

let's do a bit of history and figure out

why things are so different in the very

same product why you have

two people in different parts of the

value-adding process guaranteeing and

also making all of the money and it all

starts with this chap napoleon bonaparte

known among other things for his height

not napoleon together with many of his

french countrymen had one trait than

that is a rather visceral dislike for

the french and he actually went to war

against the French and one of the

annoying things when you go to war

against the country is that the wines

the supplies start drying up so the poor

brits that absolutely loved what the

wines found themselves without wine

supplies the problem was hauled through

Portugal and the people who solve that

were the people that were shipping the

wine from Portugal back to London what

these guys did is to go to the final

customer and say oh don't worry I am

gonna tell you which wine is good and

which wine is less good and as I certify

what wine you will want to drink or not

as I am the one that gives you the name

I'm going to be the one that's going to

be keeping the returns 1815 the

napoleonic wars are over good Bordeaux

can flow again from France into the UK

the shippers say this is terrific

because we know what we're going to do

we're going to take over the trade of

wine we also will say that trust us will

tell you what are the right ones to

drink or not now the French of course

understand that that would be very bad

news they get the idea that if they lose

the ability of differentiate to the eyes

of the customer they're going to start

losing where the money is I was ignorant

no it's not about that it's actually

about the terroir it's about the area

where it is actually made and for about

three decades an advertising war the

first advertising war in the history of

humanity goes on in the trade newspapers

of the United Kingdom

we're shippers Pomona's growers all are

trying to convince the that in terms of

the French wine it is they that should

be able to guarantee it now it's

interesting because the guy who managed

to close the deal is the nephew of

Napoleon Bonaparte who rather annoyingly

is called Napoleon

the small now when you're the nephew of

a rather small guy to begin with I guess

that that doesn't look too good which is

why you're going to see up in the slide

that he's got these huge paintings of

him be that as it may

Napoleon the small said Oh what we're

going to do is we're going to have a

classification big on crude let's say

we're going to say there's a lower

growth um then there's a paella cook

let's say and this way we will create a

rigid system to convince anyone who

consumes wine that the only thing that

matters is where it comes from and they

made it so rigid that they didn't change

it actually we change it twice once

because they literally had forgotten a

wine and these people said hello we're

on the map we waited on the original

list please put us in and the second

time it was for one of the wines of the

Rothschild family and I guess you don't

really want to piss off the Rothschilds

who bankrolled you in various different

ways now what that shows you is that who

is able to guarantee quality who makes a

difference in the eyes of the consumer

is not given it's something that varies

in port it is the shippers in Bordeaux

it is the growers in co2 on it's neither

the shippers nor the growers it is the

Khmer song it is the people that go and

buy the grapes and create these great

wines and if you think about what's

going on today you have especially in

the middle and in the lower part of the

market the big retailers Sainsbury's

coming up with its blonde the blonde

champagne or Tesco because they too want

to make sure that they are the ones that

you actually turn to in order to

identify what is valuable and what is

not

and if you can trust that with what

you'll need when you've drank way too

much coffee wine which is coffee and if

you think about coffee coffee is quite

similar and it's actually one of the

most widely traded commodities in the

planet just after oil now coffee grows

in wonderful lush places like the

highlands of Ethiopia and the people

that grow coffee the people that are up

in the fields in Ethiopia do a terrific

job caring about their crop caring about

the way that the crop is put together

much as the French counterparts that are

growing wine do but if you look at

what's happening in Ethiopia

unfortunately they need food aid to be

able to live and the reason is that for

every one euro or dollar a pound of

coffee that you buy at Starbucks they

get one cent of the value-add and for

all the effort of active it's like the

Dhamma that you see in the picture and

others whether it is fair trade or other

organizations that are trying to

rebalance who captures value in the

value chain the lack of the gong crew of

Ethiopia the different organization of

the sector has a lot to do with who is

able to make money and who not now if

the question of who in a complicated

business ecosystem is making money is

interesting in sectors as old and

slow-moving as coffee and wine it gets

much more exciting when you think about

most of the sectors today why well

because from telecommunications to

health care to energy what we see is

that the sectors are changing firms this

integrate they outsource they break up

they create new ways of adding and

capturing value let me give you one

example and think about these devices

that we are all cooked up think about

things like the iPhone not the iPhone

deuce amazing things it allows you to

find

the dinner date from someone that you

have never met before it allows you to

interact with Angry Birds it allows you

to figure out what the weather is and

know where your friends are and

following from them through town now

this is something that no one product

used to do and what our economy consists

of today is more and more sectors that

create new products but not only new

products but also new ecosystems new

ways in which actors are put together to

create value let's go back to the

example of an iPhone because the iPhone

is not a device which is fully made and

done fully operational only from the

virtues of Apple it right it R is it it

relies on an ecosystem

it requires the telecommunication which

is provided by the likes of Vodafone it

requires the product to be done Apple

doesn't create any of its products if

you look at at its back you'll see

designed in California manufactured in

China it's companies like Foxconn that

do that you have apps that you go and

buy from its store but the apps that you

buy from its store are not done by Apple

Apple takes 30% of the apps that it has

there but on the other hand it makes

none it leverages the energies of others

so what it does is first create

something that makes the customer really

really happy it's not just about

differentiation it's not just about

being better

it's about differentiability it's

finding where the customer is going to

give the money like in wines in wines

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 it's not just

about the differentiation but the

differentiability so the first thing it

does is that it makes sure that it adds

a lot of value to the eyes of every one

of us the second thing that it does is

that it manages very carefully its

supply base

would never go and buy anything unless

it has at least two sources from which

it can actually take it usually much

more than that why well because if you

have an alliance with many friends and

if you are the only one in there then

the value comes to you so the second

principle that explains to us where

value exists in an ecosystem is the

principle of relative replace ability

big fat academic words and there was an

academic that actually cared about the

relative replace ability that drives

value quite a lot this bearded political

economists that used to live a bit

further up north from where my office in

London is by the name of Karl Marx

you see Marx was rather annoyed that

these dandies of the capitalist era

we're having a nice life enjoying

looking smashing and not working really

that much and having a grand life

whereas the workers were literally

breaking their backs with 80 nowadays

and that was bothering him he was trying

to understand why in this very simple

echo system with capital and labour all

the money was going to capital and none

was going to labour and he eventually

said ah I got it I know why this is

happening this is happening because

there is the reserve army of the

unemployed because if there's so many

people who are willing to enter the

labour force and if there is such

intense competition in the labor force

then the price of the labour will go

down and then it is the capital that

will be the scarce commodity it is the

capital that will be the bottleneck it

is the capital that will be the one that

will be able to attract the most amount

of value because you cannot replace it

now as a business school professor I

like looking not only at cases but data

and you'll indulge me are sharing some

of that from the research that we are

done and what we've done is say well ok

let's think about ecosystems and let's

be a bit more serious

about it and let's take the value and

here I'll show you graph of the total

market cap in a couple of important

sectors and first you will see the

computers so what will I show you I will

take the entire ecosystem of the

computing sector and I'll tell you how

it shifted from the 1980s to 2005 who do

I have here the big integrated computer

makers the likes of IBM and Dell the

guys have made computers this is what

you see up there as computer

manufacturers I also have the people

that make software over there the people

like Microsoft or other big software

providers like WordPerfect that some of

us might remember you also have

semiconductors and related devices the

guys like Intel or AMD and what we're

looking is how they are splitting the

market cap of the sector and what you

can see from 1980 until 2005 is this

dramatic change in who makes money in

the computing ecosystem this change that

made the 13 out of the 50 richest people

in the universe and what you're seeing

here is precisely what I talk to you

about first the differentiability shifts

from making the computer to the

operating system that you use as well as

to the central processing unit second

through standardization firms like

Microsoft are able to shift the value by

making themselves more central more

valuable and opening up the floodgates

of competition in the other parts of the

sector way that were they don't compete

let's go on trust this with another

sector and I'll tell you a little bit

about cars because Curren is kind of

interesting and cars changed quite a bit

over the last two decades you may or may

not know that the car manufacturers only

manufacture around 25% of the value-add

of what is in your car all the rest is

outsourced to all kinds of suppliers and

the interesting picture here is the

picture of how value

went along or didn't as the case may be

with this huge outsourcing so here's the

interesting thing the car manufacturers

kept all the value and none of the

suppliers that were doing more and more

stuff was able to take it back now why

to the reasons the first reason is that

they were able to keep differentiability

the other ones driving the experience

they are the ones telling you why one

car is different from another

they haven't even let Apple go in the

car they want to manage the electronics

of the car and not make it be a vessel

of all the different value adding

components the second and perhaps

unexpected thing is that they also take

legal liability for what they build what

do they do well they say that if

something goes wrong with a car and if

we need to recall I'm not going to say

oh sorry that was my tire supplier that

did a bad tire winchell I know nothing

that was this other supply that did it

don't look at me guff they are legally

liable every time things go wrong they

go and they do the callbacks like the

ones that we just saw from Toyota are

coming up and they need to stand behind

it and paradoxically this thing that

seems like a huge nuisance as something

that they wouldn't want to do well these

things are what allowed them in the long

term to rule the sector now if you think

about it you'll understand also what

happened in the case of Tesco as you all

know we recently found out that some of

the burgers in Tesco contain meat now

Tesco doesn't manufacture the burgers

not even the suppliers of Desco

manufacture of the burgers not even the

suppliers suppliers actually do the

burgers they buy their meat from all

kinds of complicated networks Tesco

didn't say oh I'm sorry that I don't

know anything about these things ask ask

my supplier or ask my supply supplier

they actually went and took the

responsibility and said we cooked up we

need to repair that and it is our

responsibility and the reason that they

did that is that they knew that if they

hadn't done that then they would have

lost the possibility of keeping the

trust of the

Zoomer and they would have lost the

possibility of ruling the supply chain

short-term a pain for long-term gain the

last thing that I'd like to tell you has

to do with value creation versus value

capture I spoke about Apple just a

moment ago and I told you that Apple

managers replace ability very

intelligently but make no mistakes the

first thing they do is to do something

that will make you deliriously happy

that will make you love their products

that will make you groupies and because

they made you groupies they are able to

rule their own ecosystem

differentiability first replace ability

second the size of the five first the

share of the pie second that's a way to

add value now unfortunately we know that

there's other ways in which we can make

value and the other ways has to do with

focusing on the share of the pie and

here in Greece what's happening is that

most of the focus is creating replace

ability not because you're better but

because you're the friend of the

government who you make a replaceable

doesn't have to do with value at all you

do it the cheap way you do it by

excluding others from competing whether

you are a garbage collector whether you

are a taxi driver whether you are a

notary public what you tell to society

is don't let other people compete

because I would like to keep the value

in society

don't let them create new ways of adding

and capturing value because I would like

to continue making a good life the

problem though is that what we have

found out is that this mentality of

adding and capturing value I would say

capturing value are not caring about the

rest of society just doesn't work and we

know that once we break these barriers

once we put value creation first once we

stop thinking about the division of the

pie and we allow new configurations

great things can happen with society the

good thing is that technology and

competition means that we're going to

have the possibility

of seeing these new products seeing

these new offerings the big question

that we have is whether we will be able

to be part of that or whether we're

going to be watching things walk by and

I think that we should take our leaf

from most of the companies that we know

as the drivers of value today think

about Google Google is also very

strategic in the way that it manages its

supply chain but before it goes to

strategize its ecosystem it asks the

people that are involved in its project

to answer whether it passes the

toothbrush test whether it's something

that relates to you that you do every

day

that is part of your routine and that

can make a difference to your life

and after that they are able to

structure the rest of the ecosystem so

what I'd like to ask you to do is to

think first about the creation of value

and then about how we're going to be

dividing it so next time you sip some

wine drink your coffee drive your car

open your computer search on the

internet and look at your smartphone

think about what are the true drivers of

value and the principles by which you

can catch a value and after you've done

that turn back to yourselves and remind

yourselves that you too are part of an

ecosystem your firm is an ecosystem and

think about how some of the same

principles apply to you ask yourself can

I learn something from Tesco or Toyota's

acceptance of the short-term pain in

order to gain long-term gain and become

less replaceable can I find a way of

cementing my position by becoming more

differentiable rather than by trying to

keep people away and as you think about

not only you and your careers but all

the other ecosystems were embedded in

whether that is your sports team your

Scout Troop or anything else that makes

you happy

think about the creation

value first and think about how we can

make a better world

that's what plus means thank you