Fox School of BusinessIdea Marketplace

How Companies Innovate and Evolve with Digital Technology?

November 15th, 2013

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In an era where innovation affects everything around us, it is important for entrepreneurs to understand its value and how it affects companies seeking to grow.  This research borrows theories, methods, and tools from evolutionary biology (the study of how species evolve overtime) to better understand the changes digital technology bring to a company, described as a multi-ecosystem in constant change.  Two basic forms of evolution are found in these digital ecosystems (communities of organisms): mutation, that includes imitation and incremental changes; and recombination, that requires a more direct intervention.  Companies that want to promote, grow, or manage their ecosystem(s), must understand their evolutionary trajectory which will allow them to enter a highly competitive digital market where the competition is happening at the ecosystem level and not just at the product level.

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