Platform Thinking

Over the last two decades, platforms have transformed the way, we search for information (e.g., Google), buy goods (e.g., Amazon), consume news and media (e.g., Facebook and Twitter) and travel and move around (e.g., Airbnb, Booking.com, Uber and TripAdvisor). This phenomenon is known as 'the power of platforms', defined as an innovative business model that relies on digital technologies to assemble people, knowledge and companies in an interactive ecosystem where value can be created, captured and shared. These platforms have a great ability to attract funds and grow rapidly, relying on external resources (e.g. private houses for Airbnb or private cars for Uber), with a significant impact on the market. These companies act as intermediaries, attempting to reduce frictions in the market and helping the supply and demand sides of a product or service to find each other. As such, existing companies may be inspired by these fast-growing companies to at least partially capture the opportunities underpinning the model. Most of them are digital companies mainly focusing on the service field; nevertheless, recent cases show how platforms are having an impact in many different industries with the spread of the sharing economy and implications in the brick and mortar industries. This course aims to identify the elements that make platforms such a relevant and interesting business model defining the concept of "Platform thinking", defined as the ability to see the potentialities derived from platform-based models while fostering innovation in the digital world but also in traditional and established businesses. The course is based on the definition of platforms, taking a historical view on the evolution of this complex concept that became a buzzword, introducing Platform Thinking.