City Research Online

Abstract

The notion of platforms isn't novel, yet digital platforms have become the dominant business models across various industries. Today, many of the world's most valuable companies are platform-based, deriving their success from disrupting conventional businesses and innovating new products and services in emerging areas.

Digital platforms are not exclusive to tech giants or digital startups. Companies in established sectors, such as banking, automotive, pharmaceuticals, airlines, and retail, are increasingly leveraging digital platforms to transform their operations and industries, with many already delivering remarkable results.

Digital platforms are fundamentally reshaping strategy and competition. Unlike traditional manufacturing or product-centric organizations, the unique attributes of platforms, like network effects and winner-takes-all market dynamics, create a fiercely competitive environment, making it particularly challenging when competing against platform leaders with formidable capabilities and resources and dominant market positions.

This study delves into critical questions: What are the main strategies used by platforms to gain market dominance? How do emerging platforms challenge and overtake established ones? Under what conditions are these strategies successful? Addressing these questions is essential for business leaders, entrepreneurs, and policymakers, and they constitute the central focus of this research.

Publication Type:	Article
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Departments:	Bayes Business School > Management

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