Today’s business ecosystems look much different than they did ten years ago. With more and more connections on a digital front, we are personally and professionally tapped into business ecosystems without even realizing it.
What Is a Business Ecosystem?
A business ecosystem is the entire network of a single organization that includes everything from suppliers to distributors, customers, competitors, governing agencies, and so on. Ecosystems are dynamic and constantly morph as we change as a society, taking into account all the moving pieces, the people, the technology, and everything else that makes up an organization’s sphere.
For example, if you make a purchase at your favorite coffee shop today, you just joined that company’s ecosystem by exchanging value and creating a relationship.
Dimensions of a Business Ecosystem
According to Gartner, there are eight dimensions of a business ecosystem that enable leaders to make strategic decisions and operate efficiently in our increasingly connected world.
1. Strategy
Strategy emerges from deciding how your organization will thrive within its ecosystem, whether it plays a role as a leader, disruptor, niche player, or something in between.
2. Openness
Your company’s degree of openness dictates if your ecosystem is public, private, or hybrid. This also defines the nature of relationships within its ecosystem.
3. Participants
Who are the participants within your ecosystem? Understand who the primary person is and their role.
4. Relationships
Consider types of relationships and how those are mediated, especially on digital platforms.
5. Value
Beyond finances, business ecosystems may leverage different forms of value exchange: information, services, reputation, etc.
6. Industries
Consider partnerships with other organizations within the same niche or outside of those bounds.
7. Complexity
Ecosystems can overlap and become complex; understand how those overlapping ecosystems interact.
8. Technology
Tech enables business ecosystems in many ways, from digital security to analytics.
A Few Perspectives on a Business Ecosystem within a Society
Keeping the definition of a business ecosystem in mind, think about how they play their part in our everyday professional and personal lives. Systems are designed to meet, address, and shape human needs and desires—and organizational ecosystems create new ways to do all of the above.
Together, overlapping ecosystems achieve things that a single entity could not achieve on its own. For example, the merger of the automobile and tech industries made possible the vehicles we love today. These industries have richly enhanced our personal and professional lives, driving to the store or to work.
Living in a connected world also drives ecosystems to address social and environmental issues. Think about ecosystem approaches to poverty, water management, and food security. All impact us on a basic, human level, and ecosystems have the power to shape our experience around such critical issues.
Imagine a Connected Business System With End-to-End Connectivity
With just one platform, you can bring all aspects of your company to the cloud, boost team collaboration, enhance data security, and create unison. The 3D Experience Platform is an all-in-one cloud solution that is a backbone to build upon.
Just like Apple products, 3DX allows you to easily integrate multiple CAD tools and business software via end-to-end connectivity, making transferring information between departments easy. You customize the platform to work for your business and enhance the processes you run every day.
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