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Technology is servitizing the value paradigm. It’s time to change management thinking

SERVICE IN INDUSTRY HUB

Some years ago, Nokia, then still the global leader in mobile phones, was busy undertaking project after project to improve its business, upgrade its product offering and strengthen its value proposition, particularly with its key customer segments. But its brand preference had been slipping fast in all its key markets. It took a new CEO, Stephen Elop, to issue in 2011 a now famous, but belated warning -“Nokia our platform is burning”- about how the Apple and Android ecosystems were taking over Nokia’s market by changing the smartphone value paradigm, converting a product into a platform. The rest is history.

As technology ever more rapidly disrupts industry after industry, many companies find themselves on a similar trajectory as Nokia. And many, like Nokia, either do not recognize the problem or, if they do, often choose not to confront it.

In a November 2014 survey by Accenture (

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