Business Ecosystem (English: Business Ecosystem) is a network of interconnected organizations and businesses that dynamically interact through competition and cooperation to increase sales and survive.
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Business Ecosystem

Concept

Business Ecosystem in English is Business Ecosystem.

Business ecosystem is the network of organizations, including suppliers, distributors, customers, competitors, government agencies, etc., involved in providing a product or service through both competition and cooperation.

The idea of ​​a business ecosystem is that each entity in the ecosystem influences and is influenced by other entities, creating an ever-evolving relationship in which each Entities must be as flexible and adaptive to survive as in a biological ecosystem.

Nature of a business ecosystem

Advances Advances in technology and the rise of globalization have changed old notions of best business practice. The idea of ​​a business ecosystem is supposed to help companies understand how to thrive in today’s rapidly changing economic environment.

In fact, business ecosystems include consists of a network of interconnected companies that dynamically interact through competition and cooperation to increase sales and survive.

A business ecosystem that includes suppliers, distributors, consumers, governments, processes, products and competitors. When a business ecosystem thrives, it means that market participants have succeeded in aligning and streamlining the flow of ideas, talent, and capital throughout the system.

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Some goals of the business ecosystem

– Fostering new partnerships to address growing social and environmental challenges

– Harnessing creativity and innovation to reduce production costs or help ecosystem members reach new customers

– Accelerate the learning process to collaborate effectively and share insights, expertise, and knowledge

– Creating new ways to address basic human needs and wants.

The relationship between the business ecosystem and competition

< p>Business ecosystems create strong barriers to entry for new entrants, as potential entrants must not only copy or improve on the core product, but also compete with the whole world. set of independent ancillary businesses and network vendors.

Being part of a business ecosystem provides businesses with a mechanism to leverage technology. , achieve excellence in research and business competence, and compete compete effectively with other companies.

(According to investopedia)