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Digital Transformation initiatives are ubiquitous these days, and yet the success rate of these initiatives is relatively low. In this presentation we look at digital transformation initiatives and API strategies as one essential component. We follow by outlining which aspects API strategies must include to improve their chances of success, and how vision, strategy, and execution must be synchronized. Finally, we follow with a presentation of the three pillars that are necessary for API strategy success: business, organizational, and technology. The overall success of digital transformation is limited by these pillars, and it is essential that for all of these pillars, there are managed initiatives and progress indicators in place.
APIs for Things)
Continuous API Management: Making the Right Decisions in an Evolving Landscape[https://www.apiacademy.co/resources/books/continuous-api-management]
A firm is likely therefore to emerge in those cases where a very short term contract would be unsatisfactory. It is obviously of more importance in the case of services than it is in the case of the buying of commodities.
We may sum up this section of the argument by saying that the operation of a market costs something and by forming an organisation and allowing some authority (anentrepreneur) to direct the resources, certain marketing costs are saved. The entrepreneur has to carry out his function at less cost, taking into account the fact that he may get factors of production at a lower price than the market transactions which he supersedes, because it is always possible to revert to the open market if he fails to do this.
R. H. Coase, The Nature of the Firm
, Economica 4(16):386-405, November 1937 [https://onlinelibrary.wiley.com/doi/full/10.1111/j.1468-0335.1937.tb00002.x]
Anything that has measurable impact on transaction costs (both externally and internally) will have measurable impact on business structure and economics. In order to benefit from this impact, it is necessary that both external and internal business structure and transactions are addressed.
APIs can lead to measurable impact on transaction costs because they decrease coupling between peers, in particular in the case of services. By identifying all transaction interfaces and transforming them to APIs, firms achieve more flexibility to define and change their value chains, making them more adaptable and hence more robust. This API transformation should cover external and internal transactions.
Business, rewritten by software™
Any organization that designs a system will produce a design whose structure is a copy of the organization's communication structure.[http://www.melconway.com/Home/Conways_Law.html] (Mel Conway [https://en.wikipedia.org/wiki/Melvin_Conway])
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