Technological Platform Strategy

A Technological Platform Strategy refers to the approach a company uses to develop and share technologies that serve as a foundation for multiple products or services. Instead of creating everything from scratch for each new offering, businesses build on existing technologies—like software platforms or hardware systems—to foster innovation more efficiently. This strategy not only speeds up product development and reduces costs, but also allows for easier updates and enhancements. By leveraging a common platform, companies can focus their resources on creative solutions, ultimately improving competitiveness and driving growth in a rapidly changing market.