Instead of a single value chain the firm controls end to end, an ecosystem is a web of contributors whose combined offerings are worth more than any one alone. The strategist decides which role to play, orchestrator or participant, and how to align incentives so the network grows.
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The work is one of design and governance: defining the interfaces, standards, and terms that let partners plug in, and choosing where the firm competes versus where it enables others. Done well, it turns external capability into a durable advantage.