Question

QUESTION: WHAT IS YOUR REVIEW / OPINION ON THIS PASSAGE?

As Germany adapted their economy to meet the new technological age, business to consumer (b2c) business have also adapted their models to meet the values of openness and multi sidedness. It’s been only recently that b2b companies are adopting the tenants that b2c companies were easily amenable to.

Adapting from industry and products only to platform are how the companies are innovating and preventing themselves from becoming obsolete. A prime example of this is the partnership between Siemens and Calvatis to meet the needs of a large meat processing company. Calvatis supplies detergents and disinfectants while Siemens supplies a lot of electronic products. Individually, they couldn’t meet the needs of the clients, but by partnering and sharing a platform, they were able to get the customer exactly what they needed. Siemens connected the company’s industrial washing system to their IoT system, Mindsphere. Mindsphere was able to collect data on washing habits at the processing facility. Calvatis provided the cleaning products and was able to develop new products based on the data. Instead of just selling a product to another business, Siemens was able to bring Calvatis on as a co-creator of a new system which adds value to the platform.

Siemens opening their platform up for more users--Calvatis--allowed them to make inroads into food-industry cleaning sector. Siemens newest innovation is the “digital twin” model. It allows companies or clients to see an exact digital replication of a product or production tool. This is leading edge renovation in performance and production. This is also the future of innovation...being able to maximize performance in different sectors of the food service industry and to partner with other clients to provide a complete product and service to clients.

REQUIREMENT:

ANSWER HAS TO BE IN 200 WORDS

Answer 1

Today's market is all about innovation. Companies which are able to innovate first are taking the first mover advantage and growing successfully in the market. Innovation is being done over a wider platform by maximising performance in different sectors and by partnering with other clients to provide complete solution of the product and services to clients.

Firms are entering to diverse sectors in collaboration with other companies in order ti cater to various sectors. For instance, Tata group of companies originally into steel manufacturing has ventured into insurance sector to cater to wide segment of population in collaboration with AIG, a well known insurance company. This has been done in order to cater to wide market and with different product thus increasing the revenue generation of the company. Being in collaboration, also reduces the risk condition as the company can encash the expertise of each other while entering into diverse sector.

This is actually today's mantra, being followed by Calvatis and Siemens. They have entered into meat processing industry in joint collboration with each other., where Siemens provides its expertise in electronics market and Calvatis offers its expertise in detergent manufacturing. Thus it led to success and revenue generation for both the firms.