Real Options Thinking in Ecosystem Evolution
Abstract
This chapter describes real options thinking as a tool to designing and exercising the six different types of real options, primarily by platform owners but, to a lesser extent, also by app developers. The architecture of platforms and the microarchitecture of app embeds can create different types of flexibility to adapt to volatility in technology and in end-user needs. When the design of a project creates such future flexibility without the obligation to use it, it is said to have a real option embedded in it.
Keywords
real options; flexibility; agility; embedded options; options framework; business ecosystems
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