Business ecosystem is an economic community structured by large group of interacting companies or entrepreneurs or called the organisms of the ecosystem. This economic community provides services and commodities of significance to their patrons, who were members of the said community. These organisms were formed due to their shared visions on developing a good economic stability.
They merely have mutual benefits on each others performance and health and they were all contributing to the success of the ecosystem(Keystone Strategy, 2006). Being in business ecosystem, all members have common goals and must be able to make things out for the progress of economy.
In business ecosystem, the role of a keystone is an advantageous and critical role. They main mission is to improve and develop the health of business ecosystem in ways that they provide stability in terms set of resources and assets. They could manage to increase their community to be more productive by making complex tasks of different involved participants become easier and become more efficient.
They could also incorporate in technological advancements and innovations to improve the strength of the ecosystem. Losing or removal of keystone could lead the economic community to subside(Lansiti & Levien, 2004). They must good in finding
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Traditional business and business ecosystem are far different from each other. Traditional economy is more of slow paced economy as it does not take advantage on the modernization and advancement of technology what is greatly different from business ecosystem. They do not consider scientific and intellectual growth and expansion a factor in developing the economy (Wikimedia Foundation, 2007).
Keystone Strategy, I. (2006). Business Ecosystems [Electronic Version]. Retrieved July 9, 2007 from http://www.key-inc.com/ecosystems.shtml.
Lansiti, M., & Levien, R. (2004). Creating Value in Your Business Ecosystem [Electronic Version]. Retrieved July 9, 2007 from http://hbswk.hbs.edu/item/3967.html.
Wikimedia Foundation, I. (2007). Traditional economy [Electronic Version]. Retrieved July 9, 2007 from http://en.wikipedia.org/wiki/Traditional_economy.