Modern, digitally empowered businesses have been successful in rapid disruption and value creation, through platforms. Global enterprises ensure competitive advantage, enduring customer relations and revenue growth, need to embark on digital business transformation initiatives. They need to create new digital businesses or transform existing ones to platform-based business models. McKinsey in its February article titled `The Platform Play: How to Operate like a Tech Company’, explains this concept articulately, “Becoming a platform-based company is ultimately a question of mind-set. It requires both the determination to stay the course and the flexibility to change and adjust based on what platform teams learn. By committing to this approach, IT can stop slowing down change and start accelerating it”.
