PolyceNtric Platforms

A polycentric platform ecosystem enables transactions through standardized handling of value-

creating interactions among stakeholders. 

This reduces costs and frictions of deal completion between stakeholders and promotes attainment of the common goal of stakeholders in prosperity.

Connectivity drives contemporary commerce and the creation of capabilities. Connections

between many stakeholders and systems create a polycentric structure.

Such stakeholders gain a portion of the value created in the ecosystem

by depending on other stakeholders to create ecosystems in their own way.

Business platforms are energized by information and search functions and neutral negotiation mechanisms.

These permit exchange and foster stakeholders’ digital reputation creation. The many stakeholders generate data that increases ecosystem use and stakeholders’ satisfaction.

A polycentric structure of business platforms defines how many stakeholders engage in collective action. 

Every stakeholder of a business platform is concurrently a member of its own unique platform system with its own components, in which it contributes to value creation.

In a business platform there is nesting of multiple unique governing platform systems. Each has its own set of norms and rules.

These platform units independently adapt in governing themselves in a decentralized way while contributing to the collective outcome for a platform. This broader ecosystem is a networked community.

Each stakeholder in a platform ecosystem encompasses a heterogeneity of interests.

Each stakeholder has its own informational, transactional, infrastructural and strategic elements. These enable it to create value in its ecosystem as well as for the business platform community it is a part of.  

A polycentric system feature is that decisions rubrics are constructed to deal with local specificities rather than via generic rules. 

Polycentric component nesting helps a variety of units be part of an inclusive system. Each unit still retains its distinct conceptual goals used in framing of individually aspired outcomes. 

In polycentric markets each system within an ecosystem consists of a group of self-interested stakeholders.

In this system, relative power distribution is decentralized. Yet all contribute towards the common objective. Goal congruence is facilitated unlike in a monocentric structure. 

The collective action outcomes occur because of trust and interdependent relationships between all stakeholders. 

Each depends on other stakeholders’ goodwill to act positively.  An assumption of fairness and equity facilitates mutual value co-creation. Platform prosperity is generated for the entire ecosystem .