Symbiotic Mutualism: Entrepreneurship as Value Co-Creation

Abstract

In this paper, we present the emergence of a new phenomenon in which entrepreneurs consider sustainability and mutual benefit as the foundation of their new venture. Competition is no longer a tacit assumption. We draw upon the literature of industrial and organizational ecology to term this strategy Symbiotic Mutualism. Here, symbiotic refers to the ability of an organization to co-exist across multiple industrial boundaries; mutualism signifies the co-creation of value for all stakeholders involved. Our paper aims to unveil the mechanisms by which a new venture operates under this new logic. This study is based on a green startup that converts the waste of one industry into the raw material of another, without owning any equipment. By changing their perspective, they are able to span industrial and organizational boundaries. They are thus capable of unlocking and leveraging potential resources that would otherwise have been lost. We argue that this phenomenon is part of a larger cultural shift in how businesses view resources. The increasing focus on resource conservation and environmental impact influences their organizational practices and strategy. Furthermore, the emergence of the sharing economy has changed entrepreneurs' notions of occupation, consumption, and the ownership and access to durable goods.