Business Ecosystem Research Articles

An Inclusive Future: Role of Digital Business Ecosystems in Sustainable Socio-Economic Growth

An Inclusive Future: Role of Digital Business Ecosystems in Sustainable Socio-Economic Growth

Bridging Micro and Macro Perspectives in Business Ecosystem Dynamics: Strategic Leadership at Scale

Bridging Micro and Macro Perspectives in Business Ecosystem Dynamics: Strategic Leadership at Scale

MANAGEMENT OF BUSINESS ECOSYSTEM DEVELOPMENT IN THE FORMATION OF ORGANIZED COMMODITY MARKETS

Modern business tends to cooperate and collaborate as the conditions of its functioning become increasingly complex and require new approaches to strategies, especially in wartime. These relationships align with the concept of business ecosystem management, which has attracted significant attention from researchers in recent years. In such interdependent structures, ways can be found to optimize performance, increase sustainability, and develop innovation, which is critical for the effective management and prosperity of business entities in today's unstable environment. The study focuses on elaborating the authors' opinions on the essence of the concepts of "business ecosystem" and "commodity market". Scholars have drawn attention to the different understandings of the "business ecosystem” concept. The authors also present their vision of the concept of "entrepreneurial business ecosystems", which is that they are diverse and interconnected dynamic groups of entrepreneurs based on the talents and skills of employees, long-term leadership, fair competition, and success in new ventures for greater mobility, growth of commodity markets and the ability to transform new ideas into innovations. The methodology for conducting a SWOT analysis of the impact of the business ecosystem on the formation of organized commodity markets is revealed. The strengths and weaknesses of the business ecosystem are identified and characterized, which positively or negatively affect their performance. For each component of the business ecosystem, the opportunities and threats that can both facilitate and impede their development in wartime are identified. An expert assessment of the interaction of strengths and weaknesses, as well as opportunities and threats to the functioning of business ecosystems in the formation of organized commodity markets, is carried out. A SWOT analysis matrix of the strategy for organizing a business ecosystem in forming organized commodity markets is derived on this basis. Obtained results can be used to determine the strategic priorities for developing the business ecosystem and formulate directions for developing commodity markets.

A Comprehensive Study of Growth Patterns and Success Factors of Unicorn Startups

Unicorn startups, defined as private companies with valuations exceeding $1 billion, have become a defining feature of the contemporary entrepreneurial landscape. This phenomenon, marked by rapid growth and extraordinary valuations, has garnered significant attention from entrepreneurs, investors, and researchers. This paper provides a comprehensive examination of unicorn startups, delving into their defining characteristics, the factors that contribute to their meteoric rise, the challenges they face, and the broader implications for the business ecosystem.

Формирование бренда экосистемы как элемент стратегического потенциала

The article discusses issues related to the definition of the strategic potential of the company and its formation at the current stage of development of market relations. The study of the main approaches to the definition of the concept of strategic potential of the company is carried out. Additions to the definition of the concept of strategic potential of the company based on existing realities are indicated. The issues related to the concept and development of business ecosystems are considered. The role of business ecosystems in the further development of business structures is determined. Various approaches to the formation of the concept of a business ecosystem are considered. An addition to the definition of the concept of a business ecosystem has been formed and the necessary arguments for the transition of business ecosystems to the formation of a common digital system are given. The analysis of the concept of the brand of the business ecosystem and the need for its formation as an element of the intellectual property of the business ecosystem is carried out. The inclusion of the ecosystem brand concept into the overall strategic potential of the organization is justified

Competition and cooperation in a platform-based business ecosystem within complementary partners

In today’s competitive business landscape, adopting business ecosystems has emerged as a pivotal strategy to enhance supply chain efficiency. This study employs a game-theoretic framework to investigate the dynamics of a manufacturer establishing a business ecosystem by collaborating with a partner on a supply chain platform. The partner, in turn, offers complementary products to consumers, thereby fostering a symbiotic relationship within the ecosystem. Motivated by the need to understand the implications of such business ecosystems, this study explores their effects on firms operating in the competitive market. Additionally, we examine the impacts of two distinct advertising strategies: product-focused and platform-oriented advertising strategies. Our analytical results reveal several interesting findings. First, forming a business ecosystem based on a supply chain platform increases profits for both the manufacturer and the partner. Furthermore, our findings demonstrate that the manufacturer should selectively adopt a platform-oriented advertising strategy based on the magnitude of the platform advertising effect. Moreover, we uncover that the partner’s product-focused advertising strategy fosters a win-win outcome for all firms in the market, ensuring economic sustainability, particularly in the face of intermediate-level market competition. This research provides insightful recommendations for understanding the dynamics of the supply chain, shedding light on the strategic decisions and advertising strategies that drive efficiency within such ecosystems.

A bibliometric analysis of B Corps and sustainable business ecosystems

AbstractComprehending the state of the art of certified B Corps and sustainable business ecosystems (SBE) is crucial to affirming the role of B Corps in SBE development. The aim of this paper is to systematise the scientific knowledge related to both concepts and explore the role and contributions of these enterprises in the SBE. To date, no study has jointly carried out a bibliometric analysis and discussed the state of the art of B Corps and SBEs in management literature. A sample of 696 research documents from 2006 to 2024, extracted from the Web of Science and Scopus databases, has been analysed. The results show a strong relationship with the stakeholder and circular economy theories and a weaker relationship with the institutional theory, among others. The SBE literature is closely connected to sustainable and innovation business models, social entrepreneurship, and it is especially associated with social and environmental impact.

Disclosure of information about risks in ESG reporting of commercial organizations as a factor in increasing information transparency of the business ecosystem

Disclosure of information about risks in ESG reporting of commercial organizations as a factor in increasing information transparency of the business ecosystem

Framework for Integrating Generative AI in Developing Competencies for Accounting and Audit Professionals

The study aims to identify the knowledge, skills and competencies required by accounting and auditing (AA) professionals in the context of integrating disruptive Generative Artificial Intelligence (GenAI) technologies and to develop a framework for integrating GenAI capabilities into organisational systems, harnessing its potential to revolutionise lifelong learning and skills development and to assist day-to-day operations and decision-making. Through a systematic literature review, 103 papers were analysed, to outline, in the current business ecosystem, the competencies’ demand generated by AI adoption and, in particular, GenAI and its associated risks, thus contributing to the body of knowledge in underexplored research areas. Positioned at the confluence of accounting, auditing and GenAI, the paper introduces a meaningful overview of knowledge in the areas of effective data analysis, interpretation of findings, risk awareness and risk management. It emphasizes and reshapes the role of required skills for accounting and auditing professionals in discovering the true potential of GenAI and adopting it accordingly. The study introduces a new LLM-based system model that can enhance its GenAI capabilities through collaboration with similar systems and provides an explanatory scenario to illustrate its applicability in the accounting and audit area.

Development and Support of Ukrainian Domestic Entrepreneurship in the Knowledge Economy

This paper explores the elements of support and development of entrepreneurship in Ukraine. It suggests that digitalization is an important organizational component in the development of the business sector in the knowledge economy. The authors present a comprehensive study of the most advanced domestic business ecosystems (Diia, UNIT.CITY, Genesis) and highlight their key characteristics, i.e., type of ownership, structure, mission and vision, services for entrepreneurs, investment fund availability, and areas and types of investment. The paper concludes that support for entrepreneurship in Ukraine is based on the principles of efficiency, accessibility, social security, openness, and transparency. Entrepreneurship support is considered as a set of measures of the state-funded and private institutions and organizations aimed at ensuring the sustainable functioning of small and medium-sized business entities and stimulating their development by creating the following favorable conditions: building a competitive environment and increasing competitiveness; fostering investment and innovation efforts; promoting manufactured goods (works, services) or knowledge-based products in domestic and foreign markets; ensuring employment by supporting the citizens’ entrepreneurial initiatives. Areas of public and private support of domestic entrepreneurship include provision of information, consultancy, and special services. Moreover, the paper pays special attention to the forms and methods of supporting businesses and entrepreneurship under martial law in Ukraine in 2022.

Pricing strategy for co-created products in platform-based consumer innovation

Consumer innovation, which is the participation of consumers (or users) in product research and development, has become increasingly popular in recent years. Simultaneously, large technological advances on the internet have provided a convenient channel for consumers to contribute creative ideas in co-creation activity, providing an opportunity to rebuild our business ecosystem. We focus on how the platform impacts the process of consumer innovation. In this paper, we consider a setting in which a platform enterprise, a producer, and a group of consumers jointly design and produce a co-created product. In the co-creation process, the platform collects consumers’ ideas, sets three different innovation standards (i.e., practicality-oriented innovation, novelty-oriented innovation, and mixed innovation), and then sells the integrated idea to the producer. We demonstrate that each of the three innovation standards has its own scope of application, and no one standard is strictly dominant. Furthermore, a consumer is more willing to purchase the product with the increase in the effort exerted by himself when participating in a co-creation activity. Finally, we find that government subsidies for the platform enterprise are not always high-efficient in terms of increasing social welfare.

Индикаторы цифрового развития малых форм хозяйствования АПК Волгоградской области

The successful adaptation of the regional agro-industrial complex to a new technological order is impossible without activating the maximum number of resources available to national agriculture: management, production, economic, financial, technological, demographic, and climatic, as well as any other factors that stimulate the transition of the agricultural sector of the Russian economy to a qualitatively new level of scientific and technological development. The fourth technological order in agriculture will become the basis for a qualitatively different level of automation and digitalization of agro-industrial production, within which the role of the business entity will be largely limited only to making key managerial, production, and economic decisions. Technological processes will be fully automated through the widespread use of robotics, digital twins, predictive and cognitive technologies, EFR and CRM systems, the Internet of Things, etc. The need to optimize these solutions and integrate them into a single production and digital network will stimulate the creation of so-called digital ecosystems in the agricultural economy. These ecosystems are “a set of technological platforms, applied Internet services, analytical, and information systems created on the basis of a computer network infrastructure with the characteristics of self-regulation, adaptability, and sustainability for the purpose of joint production or promotion of a given benefit, information exchange, and evolutionary development of the system” aimed at satisfying people’s needs for high-quality and safe food products based on the use of resource-saving and environmentally friendly technologies. The article examines the most significant indicators of the digital development of small agricultural businesses in the context of their ability to function within the framework of regional digital business ecosystems, as well as the prospects for the integration of small businesses into global ecosystems of the digital economy. A set of statistical data was studied that gives an idea of the use of digital technologies in the agricultural sector of the regional economy. A set of statistical data on the use of digital technologies in the agricultural sector of the regional economy has been studied, some indicators of the level of digitalization of small agribusiness entities have been identified and analyzed, making it possible to determine the trajectory of the digital development of micro-farm enterprises and to develop the general contours of a forecast scenario for the integration of small agricultural forms into the digital business ecosystem of the agricultural economy.

Determinants of Digitalization in Unorganized Localized Neighborhood Retail Outlets in India

The increase in digital disruptions and changing preferences of different stakeholders has led to digital adoption in all hierarchies of business ecosystem. This study focused on the identification of the determinants of digitalization in unorganized small, localized retail outlets (Kirana stores) of an emerging economy. A theoretical model was constructed with certain modifications based on technology adoption models such as Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) to study the impact on business performance in general and as an effect of pandemic. A survey of 285 Unorganized Localized Retail Outlets Stores from different regions of India was used to validate this theoretical model, and structural equation modeling was then further employed. The findings underscore that cost, compatibility, perceived ease of use, and perceived usefulness significantly affect the intention to digitalize. By addressing the post-pandemic impact of digitalization within an unorganized sector in an emerging economy, this study adds to the scant literature that exists in this context.

Integrating Analytics in Enterprise Systems: A Systematic Literature Review of Impacts and Innovations

Recent advancements in Enterprise Information Systems (EISs) have transitioned from primarily supporting operational and tactical processes to enabling strategic decision-making through integrated analytics. This systematic review critically examines global literature from 2010 to 2023, focusing on the factors influencing the adoption of analytical components in EISs and assessing their impact on strategic decision-making in organizations. Following the PRISMA 2020 guidelines, we meticulously selected and reviewed articles from the Scopus database, employing a robust taxonomy based on the technology–organization–environment (TOE) framework to categorize findings. Our methodology involved a thorough screening of 234 studies, leading to a final analysis of 45 peer-reviewed articles that met our stringent criteria. These studies collectively underscore a significant gap in organizational capabilities, notably in the business ecosystems surrounding EISs, which hampers the effective adoption and utilization of advanced analytics. The results highlight a distinct need for improved understanding and implementation strategies for integrated analytics within EISs to enhance strategic decision-making processes. This review identifies critical factors for integrating analytics into Enterprise Information Systems (EISs), emphasizing technological, organizational, and environmental dimensions. It highlights a significant gap in models guiding ERP systems with Business Intelligence (BI) capabilities and underscores the need for robust research to enhance strategic decision-making through analytics.

Untangling cross-border interfirm effects in SMEs’ working capital financing: A cyber-behavioral signaling perspective

This study analyzes the intricate dynamics of cross-border interfirm interactions in the working capital financing of small and medium-sized enterprises (SMEs) by using a novel cyber-behavioral signaling perspective. It emphasizes the pivotal role played by the generation and transmission of credible signals to mitigate informational disparities inherent in SME finance. While extant literature predominantly focuses on physical-centric signal types, our work sheds light on SMEs’ strategic use of behavioral factors in the network ecology to generate and transmit signals. Grounded in signaling theory and informed by network ecology, we propose that network ecology constitutes a fertile environment for SMEs to effectively communicate their creditworthiness through high-quality signals. Using survey data from 276 Chinese SMEs, our empirical analysis reveals that cross-border interfirm effects—both unintentional network spillover and intentional network transitivity—significantly bolster SME financing outcomes. Leveraging digital knowledge repositories mediates the strength and effectiveness of these signals, and exerts an even stronger positive impact on SME working capital financing in the absence of well-established normative mechanisms in the wider business ecosystem. By integrating a cyber-behavioral dimension into signaling theory within the SME financing domain, this research offers new understanding on how SMEs can harness the untapped power of their interconnected relationships to secure external capital. The study contributes to theory and practice by elucidating pathways for SMEs to navigate complex interfirm linkages to facilitate improved access to working capital.

Business model innovation for reducing uncertainty in sustainability transitions: A case study of the wood construction industry

Sustainability transitions are a significant challenge that requires established industries to adopt innovative ways of doing business. Research suggests that while this is possible through business model innovation (BMI), risk avoidance by regime actors and high levels of future uncertainty act as barriers to successful transitions. Specifically, we lack knowledge about how established companies innovate their business model (BM) to reduce uncertainty related to sustainability transitions. We explore the case of a large forest‐based manufacturing company in the construction industry, Stora Enso. We find that, by pursuing transformative BMI and combining multiple value creation logics, a company can reduce different types of uncertainty while shaping its business ecosystem towards more sustainable opportunities. We show that the BM can serve as an organizational tool for collectively exploring new knowledge, reducing uncertainty and driving change in a business ecosystem.

Correlation between higher education support and future sustainable ecopreneurship drive among Javanese-centric students

The environmental crisis has triggered green markets and eco-consciousness. Java is facing severe ecological stress. Ecopreneurship is then seen as a job creator and conservation tool. However, obstacles such as scarce resources remain among entrepreneurs. Universities play a crucial role in promoting eco-awareness and nurturing aspiring ecopreneurs. This study aims to analyze the role of three pillars of external support for education, government, and technology in self-efficacy and ecopreneurship intentions among Java Island students. This study involved 309 undergraduate (S1) students from state and private universities in Java in different specialization programs, based on the criteria, who attended and passed the entrepreneurship course program. Data analysis was conducted using Partial Least Squares-Structural Equation Modeling (PLS-SEM). The results showed that eco-educational support was found to significantly enhance ecopreneurial self-efficacy, aligning with prior research emphasizing the importance of recognition, curriculum, industry collaboration, and business ecosystem in fostering self-efficacy. Similarly, eco-educational support positively influences ecopreneurial intention, reinforcing the significance of educational initiatives in promoting green business ventures. Governmental assistance, including financial aid and pro-environment policies, was identified as crucial in bolstering both self-efficacy and intention for ecopreneurship. Moreover, the support of information technology positively affects self-efficacy and intention, indicating its role in facilitating access to resources and fostering confidence among aspiring ecopreneurs. The study also highlighted the mediating role of self-efficacy, suggesting its importance in bridging external support with entrepreneurial intentions. Overall, the findings underscore the importance of holistic support systems in cultivating a generation of environmentally conscious entrepreneurs. AcknowledgmentThis study is funded by the Riset Kolaborasi Indonesia (Grant No. 38248/UN38.15/LK.04.00/2023) Universitas Negeri Surabaya.

Enablers for circular ecosystem transformation: A multi-case study of Brazilian circular ecosystems

Although a growing research stream indicates that many firms have transformed their ecosystems toward a circular ecosystem, the current scholarship provides limited theoretical and empirical insights into the enablers of this transformation process. In order to clarify some of these enablers, our research settings consisted of 7 focal firms engaged in transforming their business ecosystems into circular ecosystems. We adopted a theoretical sampling to perform longitudinal research from 2008 until 2023. Building on rich multiple case studies, we identify four categories of enablers: affiliation, interdependence, alignment, and ecosystem engineering. Based on these themes, we propose a new theoretical framework that characterizes theoretical and empirical insights regarding how to facilitate circular ecosystem transformation. The proposed framework opens up new opportunities to explore potential enablers to leverage circular ecosystem configurations, which are unique and whose multidirectional value alignment is much more challenging than a single firm's structures.

Бизнес-экосистемы как эффективная форма организации корпоративных взаимодействий

The article discusses the concept and types of ecosystems in economics: knowledge ecosystem, innovation ecosystem, examines their properties and differences, and makes an attempt to systematize the views of various scientists on the nature and essence of economic ecosystems. The emphasis in the study is on industrial business ecosystems from the point of view of organizing effective corporate interaction between participants in their structure.

Community development of a business ecosystem in planting media commodities (Goatthai) with One Village One CEO Program: a case study of Cianjur

Abstract In challenging economic conditions, with 11.74 million urban residents and 14.16 million rural residents in poverty as of March 2023, innovation in natural resource management is critical. This study investigates how the agricultural community in Sukanagalih, Cianjur, uses husk charcoal to create sustainable and economically beneficial planting media. This study discovered that economic necessities has driven farmers in Sukanagalih to develop and use husk charcoal as a planting medium, not only for the domestic market but also for the international market, using a survey approach with purposive selection. Community income increased significantly, from IDR 1,450,000 in 2019 to IDR 3,300,000 in 2021, supported by assistance in husk charcoal production, packaging branding, and marketing network expansion through the “One Village One CEO” program. These findings demonstrate that community empowerment through innovation and business assistance is the key to developing a sustainable and profitable business ecosystem.