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Managing digital business platforms: A continued exercise in balancing renewal and refinement

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  • Montealegre, Ramiro
  • Iyengar, Kishen

Abstract

Central to the evolution of a digital business platform is the organization’s ability to balance exploration (renewal) and exploitation (refinement) simultaneously. Drawing on prior research—including digital platforms, contradictory tensions, and organizational ambidexterity—and our own experience investigating digital business platforms in organizations, this article provides insights into how executives can manage this evolution successfully. More specifically, we present a framework recognizing three pairs of organizational capabilities (i.e., identifying-nourishing, expanding-legitimating, and augmenting-embedding) that enable balancing renewal and refinement of the platform over time. We close by providing critical managerial practices that executives can use in anticipating, adjusting, and evaluating the evolution of a digital business platform over time, including its initiation, development, and growth.

Suggested Citation

  • Montealegre, Ramiro & Iyengar, Kishen, 2021. "Managing digital business platforms: A continued exercise in balancing renewal and refinement," Business Horizons, Elsevier, vol. 64(1), pages 51-59.
    • Handle: RePEc:eee:bushor:v:64:y:2021:i:1:p:51-59
    DOI: 10.1016/j.bushor.2020.09.003
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    References listed on IDEAS

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    Cited by:

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    5. Antonio Fernández-Portillo & Nuria Ramos-Vecino & Adelaida Ramos-Mariño & Gabriel Cachón-Rodríguez, 2024. "How the digital business ecosystem affects stakeholder satisfaction: its impact on business performance," Review of Managerial Science, Springer, vol. 18(9), pages 2643-2662, September.

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