?? The FUTURE of EVERY SUCCESSFUL BUSINESS

?? The FUTURE of EVERY SUCCESSFUL BUSINESS is as an INNOVATIVE "DEP" ECOSYSTEM {Infographic}

??? While this Article is about how to build an innovative ecosystem in general, it applies to both corporate enterprises and developing country economies.

??? Let me start with China as a country example (and in the process, help you to understand how China actually operates).

?? CHINA as a MODERNIZED ECONOMY EXAMPLE

??? China is vastly misunderstood in the West, both politically and economically. In reality, it is a prime example that both businesses and other governments can learn from.

??? Indeed, China is a "global mega corporation" as much as a national government. The Politburo is its Board of Directors, and the Cabinet is its CEO and C-Suite.

??? As China has amply demonstrated since around 1980, innovative ecosystems play a crucial role in driving economic modernization.

??? And I am proud to have played a Strategic Advisory role to China's National Development and Reform Commission (NDRC) in that area since 1984.

??? In 1980, China switched economically and politically from Communism to what it calls "Socialism with Chinese Characteristics." This certainly is *not* Marxist Communism, but closer to Lenin's "New Economic Policy" (NEP) of the 1920s.

??? Indeed, Lenin described NEP as an economic system that would include "a free market and capitalism, both subject to state control," while socialized state enterprises would operate on "a profit basis." (Please read that again.) Since then, Russia has totally failed in this regard.

??? China thus now pursues a "Socialist Market Economy" (that is *not* a paradox) driven by the innate entrepreneurial spirit and traditional Confucian culture of the Chinese people.

??? Now, recognize it or not, China's successful economic modernization concept is in effect being adopted in the West in the shape of "Stakeholder Capitalism," Corporate Social Responsibility (CSR), and Environmental and Social Governance (ESG).

?? DIGITAL ECOSYSTEM PLATFORM

??? This is most apparent in what I call a Digital Ecosystem Platform (DEP) -- which I have written about several times.

??? DEPs are most obvious in companies such as America's Amazon (not regulated) and China's Alibaba (now regulated).

??? Both private and public DEPs have 3 main components (see main Infographic) as follows:

?? 1. SHARED PURPOSE

??? This gives the DEP central focus and coherence, supported by the other components, to enhance the wellbeing of all Social Stakeholders.

?? 2. ENTREPRENEUR PARTNERS

??? Hence, a DEP is built by private and public entrepreneurial entities and individuals who collaborate to create, support, and enable innovation that drives economic growth for the DEP and larger society. They play 5 key roles:

??? 1. Techno-Innovate

Identify, develop, and improve markets and economies. China created Special Economic Zones (SEZs) in 4 cities and launched its modernization program as a highly-successful pilot project in one province, Sichuan, before rolling out nationally.

??? 2. Collaborative DEP

Participants actively collaborate in value chain and supply chain development, including building infrastructure. To meet its initial goal of being an export driven DEP, China rapidly built major sea ports and (at my suggestion) an extensive highway and rail network, where none had existed before.

??? 3. Promote Project

Participants need to promote, showcase, and celebrate innovative projects to build a motivated and innovative culture, especially among employees and customers. China's then-leader Deng Xiaoping went on well-publicized tours to talk up the projects across China.

??? 4. Reskill and Co-Learn

People must be trained, reskilled, and upskilled in new ways of doing things, in order to optimize productive output.

• Partners also share and pool their expertise to build and spread innovative approaches throughout the DEP, thus building human capital of knowledge, skills, capacities, and competencies, including technological aptitude.
• China updated its educational curricula and sponsored millions of students to go abroad to strengthen its skills.

??? 5. Resources

Entrepreneurs and partners must input financial resources.

• The Chinese by nature are resourceful and prudent savers, even on low incomes.
• As well, the Chinese banking system was reformed to expand money supply and free up lending facilities for entrepreneurs.
• China also abandoned its "commune" system of pooled production quotas to allow many sectors of the economy to produce as much output as it was able, to take to market.

?? 3. SOCIO-POLITICAL ENVIRONMENT

??? The enabling environment affects the ability of companies (or countries) to produce innovation and to reverse-engineer (copy), adapt and use innovations from elsewhere, in 5 main aspects.

??? 1. Social + Cultural

Cultural beliefs, social values, and established customs determine market response to innovations. Chinese people adhere to Confucian social values and also are fundamentally entrepreneurial, plus they had suffered a deteriorating economy for years under Mao. Deng's approach came as a huge relief to the entire population, especially once they saw proof that the new approach was being successful.

??? 2. Economic Context

How public and private entities collaborate in the production, distribution and consumption of products across the value chain is of vital importance.

China enabled this by launching a "Socialist Market Economy," with Deng famously saying that it was okay for some people and places to "get rich before others." And in terms of the convergence of "Socialist" and "Market", he said "It doesn't matter whether the cat is black or white so long as it catches mice."

??? 3. Government Policy

Public policy, plus regulations and their application, can either stifle or encourage innovation. In China, Mao stifled and even banned change. Deng reinvented the entire policy environment once he gained leadership control and oversight.

??? 4. Natural Environment

These days, the natural environment is an increasingly essential priority. As mentioned earlier, stakeholders expect it.

• When China was modernizing it had to make decisions as to how environmentally sound it could afford to be, or whether it would initially pollute and then clean up afterwards, within a certain time period.
• Today, thanks to prosperity, it leads the world in alternate energy supplies for example.

??? 5. Resources

Governments also must adequately fund the innovation programs through an ecosystem strategy (see later).

• As I mentioned, China primarily did this through massive infrastructure investments, which in turn were funded by fast-growing exports.
• Resources thus include road, rail, ship, air travel, communications, energy grids, etc., plus cash financing.
• Projects also need social capital, meaning to the mutual social benefits of the project, such as job creation and household income generation to build and reinforce social enthusiasm for the project.

?? DEP STRATEGIES

??? As with any project, the strategic approach to developing a DEP, whether for businesses or governments, includes 5 main steps.

??? 1. Vision and Motivation

Participants must share a common vision of their collective future. Successful DEPs are launched by the most motivated partners.

??? 2. Communication

Successful DEPs use community-shared models and language to build shared understandings.

??? 3. Proven Scope

Identify what systems and processes are working well and what can be most easily improved for the biggest gains.

??? 4. Roadmap Iterations

Plot and measure milestones of achievement, with some quick results to begin. Learn by doing, experiment, test, re-test, and then roll out the project.

??? 5. Celebrate Success

Publicly celebrate progress and showcase successful innovations to recognize and energize participants and motivate others to join the project.

?? IN SUM

??? Follow this framework, and I guarantee that you will build a successful Digital Ecosystem Platform (DEP) for your business, your town, your city, or your country.

??? If you need help beyond this overview, please Message me.

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