A Meta-synthesis of the Strategic Dimensions of Digital Platforms: A Lifecycle Perspective

Document Type : Research Paper

Authors

1 Technology Entrepreneurship, Faculty of Entrepreneurship, University of Tehran,, Tehran, Iran

2 Department of Technology Entrepreneurship, Faculty of Entrepreneurship, University of Tehran, Tehran, Iran

10.22059/jed.2024.377405.654381

Abstract

Purpose: Today, digital platforms have transformed the structure of all industries and increased the role of digital services in people's daily lives. Considering the high failure rate of digital platforms, it is necessary to consider many factors for the success of a digital platform in today's environment. One of these factors is understanding the lifecycle of the digital platform. Therefore, the purpose of this study, while reviewing digital platforms based on their lifecycle, is to identify the strategic dimensions that improve the chances of success for digital platforms in today's environment. Based on these dimensions, a framework can be established to systematically review different strategic configurations at various stages of their lifecycle.

Method: This research conducted a systematic and meta-qualitative literature review of digital platforms to achieve the research goals, with a special focus on the lifecycle of digital platforms. For this purpose, four steps were carried out: setting the goal for the research, systematically reviewing theoretical foundations (literature review), searching for and selecting articles related to the research, and extracting information from the articles. Finally, a morphological framework was created to organize and combine the research findings, which included four steps: identifying dimensions, listing factors, creating a framework, and achieving final conditions.

Results: This research examined the lifecycles in the digital platforms literature and extracted key constructs from the literature. Then, using open and axial coding with a meta-combination method, a four-stage lifecycle (including birth-planning, start-up, growth, and maturity-evolution) based on four factors (market share, time, market growth, and ecosystem) was created, leading to the formation of necessary coherence in the stages of lifecycles in digital platform literature. The strategic dimensions of digital platforms were determined in six general dimensions (including key challenges, key objectives, strategies to deal with challenges, fundamental roles, evolution of the proposed value, and evolution of the platform ecosystem) from the literature over time, as a round-trip movement several times, and the completion of the reforms. Finally, this framework allows strategists and platform managers to make informed decisions that take a holistic view of potential scenarios, thereby improving strategic flexibility. This structured approach is critical to maintaining competitive advantage in the digital platform space, where strategic agility and ecosystem management are key to long-term success.

Conclusion: This study emphasizes the importance of strategic alignment between strategic dimensions and the lifecycles of digital platforms. By systematically identifying and linking these dimensions, this study has provided a morphological framework to create a comprehensive view and guide owners, managers, and strategic leaders in the digital platforms industry. Additionally, in each stage of the lifecycle, according to the objectives of each stage, this study provides successful suggested strategies to overcome key challenges in each stage of the lifecycle of digital platform businesses, which can be used as a guide for researchers, managers, and platform business owners, helping them navigate the challenges of the dynamic digital environment and achieve sustainable success. Therefore, this framework has created a structured approach to strategic alignment in digital platforms, which is crucial to overcoming their high failure rate. Finally, using this framework, strategists and platform managers can make informed decisions that take a holistic view of potential scenarios, thereby improving strategic flexibility. This structured approach is critical to maintaining competitive advantage in the digital platform space, where strategic agility and ecosystem management are key to long-term success.

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