How can business ecosystems be an opportunity for creating powerful new competitive advantage? Give one example.

Expert Solution

Business ecosystems

The business ecosystem is defined as the network of organizations that includes its suppliers, distributors, customers, competitors, government agencies, and many more that are responsible for the delivery of goods and services. In the business ecosystem, one factor is affected or can affect other factors that create an evolving relationship in which each business unit must be flexible and adaptable to survive as in the ecosystem.

business ecosystems be an opportunity for creating powerful new competitive advantage when the firms are flexible and adaptable in the dynamic environment. Successful businesses should attract resources of all kinds, capital, partners, suppliers, and customers to create cooperative networks. When a company, as a part of the ecosystem, work cooperatively to support new products, satisfy customer needs, and incorporate the next round of innovations, it can win a competitive advantage. business ecosystems create several new ways to address fundamental human needs and desires to fulfill accordingly. For example, Many car- and ride-share businesses are experimenting, learning, and drawing into different values of the Millennial generation to capture their need and wants.

Hence, the business ecosystem and its depth of knowledge and understanding can provide a powerful competitive advantage to many firms and businesses.

Kindly give an up-vote for more encouragement. Thank you!

keosha answered 1 year ago

1. Give an example of how IKEA or Disney or BMW use continuity to their competitive advantage?...

1. Give an example of how IKEA or Disney or BMW use continuity to their competitive advantage? 2. What are alignment and tailoring with regards to continuity? 3. How do employees benefit from continuity? 4. Give an example of how Four Seasons /or Southwest employees benefit from continuity? 5. What happens when companies frequently shift their strategy? Give an example. 6. When a company’s strategy is successful, why should the company change? 7. What influence does changes to the industry, technology make strategic change essential? 8. Why do...

Describe what is a competitive advantage and give an example. (200 word)

Synergy can be an important competitive advantage. Why can it also be a ‘mirage’? Give an...

Synergy can be an important competitive advantage. Why can it also be a ‘mirage’? Give an example of 1 brand that achieved synergy, and an example of 1 competing brand that attempted, but failed to achieve, synergy. Short Essay format

Give one example of a perfectly competitive team and one example of a monopoly team. Explain.

Can aliasing be prevented? If so, give one example of how.

Give one example of how in business that the time value of money concepts will be...

Give one example of how in business that the time value of money concepts will be important. Give one examples for your personal life. In your examples use dollar estimates to show the impact

In the text, phrases like “competitive advantage” and “upsetting the equilibrium” and “creating a difference” are...

In the text, phrases like “competitive advantage” and “upsetting the equilibrium” and “creating a difference” are used. All of these terms share a common thread. What is that thread and how does it apply in the health care arena?

1. Strategy to overcome/control the issue on 'Sustaining Competitive Advantage'. Explain and give an appropriate example.

What are the New sources of competitive advantage?

Provide an example in which real-time data can be used as a competitive advantage for corporations....

Provide an example in which real-time data can be used as a competitive advantage for corporations. Why do you feel this real-time data is an advantage? How long can the advantage last?

Question