 It's my absolute pleasure to be here with Professor Michael Jekovidis who participated in our Brightline workshop yesterday about transformation, the transformation compass, and people-centered transformation, how important to that is. And you also participated in this morning's conversation opening at the Peter Drucker Forum talking about ecosystems. And I so much reflected on the comment you made yesterday at the workshop around creating an ecosystem. An ecosystem is about creating a dense web, you said, of relationships that create an actual ecosystem and the relationships aspect of the ecosystem I quite relate related to because as we think about Brightline and the kinds of things that we're doing it's not just about us in our thinking being able to to wrap our arms around others and their thinking and be able to bring that together through a collaboration. Is that the kind of thing you're thinking about and what tell me about your perspective around ecosystems? Yeah well I think that what we're seeing is almost a tail end of an evolution where it is becoming increasingly clear that no man is his own island and it started by a division of labor that was between firms each one working on a very well delineated and specific area so you had sectors well-defined firms well-defined markets well-defined so you knew what you were selling you were selling a particular line of financial service products you put the selling you know particular types of yogurt or of automobiles and even though you needed to collaborate the nature of your collaborations was nothing to write home about you had some suppliers you had some downstream manufacturers if you're a manufacturer or channels of distribution if you're in the service business and you just needed to ensure that you do your work right now what's changed is the fact that we are increasingly seeing these boundaries that separated the world and these neatly organized separate industries and markets that are going down so what's happening is that people want some kinds of services and solutions not just people businesses want services and solutions so what we have seen is a change in the way that procurement happens at the level of businesses that are interested in having their needs covered and that isn't just that you respond to our an RFP but that you provide solutions which is the word that has come up and that's where the ecosystems become interesting for two reasons first of all you need to figure out where it is that you yourself are focusing because it is not something that you know to begin with it isn't someone that is saying here's your neatly delineated part of your business and what we see is that there is an increasing interpenetration and we see people who are trying to offer these solutions across different plays the second thing that happens is that once you do that you're like well I might not be able to do everything myself but I may be able to coordinate with other players in order to offer new stuff and that's where we're coming to the second big force because one of them is this reduction in terms of the boundaries between industries driven quite often by regulation that is becoming increasingly more submissive but you also see the changes in technology I mean right now the possibilities of linking stuff through digital technology and offering you something that provides all-in-one service is remarkable your fridge will order your milk your computer will tell your car to unlock so that a crew that has agreed with your with the maker of the locks and with the car and with an operating system unlocks the doors so that they can clean it and then locks them again and someone else whom we have also found through your phone is going to give the groceries in your trunk so you can go home as far as I'm concerned as a customer this is great for something okay now I'm gonna have some solutions that cover my needs and it allows me to be more creative and what is it that people need or what is it that businesses need at the same time in addition to having this great customer simplicity you need to say mmm in order for me to make all that good stuff work I probably need to work with a number of different other partners I'm not gonna do it all myself I'm not gonna employ people neither will I have things that are long chains of supplies but I'll find people and say look if someone asked me to unlock through your car should I tell them that your service is available and this is what Hyundai has done with blue link and of the there is the company called wash OS that washes your cars on the basis of the platform that it gets and it is able to provide on the one hand a seamless experience vis-a-vis the customer but on the other hand it works on the complexity of carefully organized relationships that it has with the complement this with the people that you can work together in order to add value to the customer so in a way you have this interesting yin and yang of business ecosystems traditionally yang is associated with the bright the luminous the simple let's say the thing that makes the customer happy but there's also yin which is its counterpart it needs to balance it which is the careful business design the collaborations that are created with other organizations the terms that you you create with them you know is it revenue sharing and is this a joint venture how do you put it together so right now we are in the period where I think success is driven by intelligent business design more than just with operation efficiency