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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:

    1. Chandna, Vallari, 2022. "Social entrepreneurship and digital platforms: Crowdfunding in the sharing-economy era," Business Horizons, Elsevier, vol. 65(1), pages 21-31.
    2. Liozu, Stephan & Hinterhuber, Andreas, 2022. "Pricing as a driver of profitable growth: An agenda for CEOs and senior executives," Business Horizons, Elsevier, vol. 65(4), pages 457-467.

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