Management Practice Insights


Management Practice Insights

Year: 2024, Volume: 2, Issue: 1, Pages: 21-26

Original Article

How Platform Ecosystems Can Turbocharge Your Strategy To Address Societal Challenges

Received Date:07 December 2023, Accepted Date:07 March 2024, Published Date:29 March 2024


As societal value creation gains importance, there is a growing realisation that some complex challenges facing society are hard to tackle by the corporate or even through a public-private partnership. To effectively tackle grand challenges such as food security, clean energy or cybersecurity threats, to name a few, value creation needs to look beyond the organisation’s boundary for multiple stakeholder collective action. So how best to organise for this? A recent research article  by Finnish academic Paavo Ritala says, ‘by developing scalable online-cum-physical platforms that engage diverse stakeholders focused on the challenge to be addressed’1


1 Paavo Ritala, “Grand Challenges and Platform Ecosystems: Scaling Solutions for Wicked Ecological and Societal Problems.,” Journal of Product Innovation Management, May 25, 2023, 1,

2Tim Stobierski, “15 Eye-Opening Corporate Social Responsibility Statistics,” Business Insights Blog (blog), June 15, 2021,

3 Business Roundtable, “Business Roundtable Redefines the Purpose of a Corporation to Promote 'An Economy That Serves All Americans,'” August 19, 2019, the-purpose-of-a-corporation-to-promote-an-economy-thatserves- all-americans.

4 Lucy Pérez, Dame Vivian Hunt, Hamid Samandari, Robin Nuttall, and Donatela Bellone, “How to Make ESG Real | McKinsey,” accessed March 5, 2024, how-to-make-esg-real.

5 Sophie Heading, Ellissa Cavaciuti-Wishart, “These Are the Biggest Global Risks We Face in 2024 and Beyond,” World Economic Forum (blog), January 10, 2024, 2024/.

6 Mika Ruokonen, “Platform Ecosystems – Opportunities and Challenges,” May 28, 2021, platform-ecosystems.

7“Patient Innovation How It Works,” October 16, 2014, https://patientinnovation. com/how-it-works.

8“Excess Materials Exchange,” accessed March 5, 2024,

9“Master Card Priceless Planet Coalition,” accessed January 31, 2024, html.

10“ITC E-Choupal - Rural India's Largest Internet-Based Intervention,” accessed March 5, 2024, e-choupal.aspx.

11 Paul Prior, “Council Post: Phygital — What Is It And Why Should I Care?,” Forbes (blog), June 30, 2021,

12 TBI Team, “How ITC E-Choupal Connects Corporate Giants, Farmers & Consumers,” January 4, 2018,

13 “ITCMAARS - Ushering in NextGen Agriculture,” accessed March 5, 2024,

14“ITCMAARS - Ushering in NextGen Agriculture.”

15 “Patient Innovation How It Works.”

16“Excess Materials Exchange | LinkedIn,” accessed March 6, 2024,

17 Jannik Lindner, “Corporate Social Responsibility Statistics [Fresh Research],” December 16, 2023,



© 2024 Published by SPJIMR. This is an open-access article under the CC BY license (


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