Guest post by Simon Torrance, The Futures Agency speaker and author and presenter of the New Growth Playbook, How to Transform your Business Model for the Digital Economy
European industry continues to lag badly behind the US and China in adopting advanced business models, in particular digital platforms.
In 2016 European firms accounted for just 4% of the global market value of platform businesses (companies like Apple, Amazon, Alibaba, Uber and Tencent). China had a 24% market share and the US 70%.
This is important because companies with platform-enabled multi-sided business models significantly outperform those with predominantly one-sided product or service centric models (companies like BMW, HSBC and Axa) in terms of growth rates, return on assets, margins and valuation multiples.
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