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E2 > The concept of business ecosystems (Chapter 1) > Flashcards

The concept of business ecosystems (Chapter 1) Flashcards

1
Q

Competition

A

at least two parties strive for a goal which cant be shared -one’s gain = one’s loss

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2
Q

society

A

people sharing the same spatial or social territory

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3
Q

regulation

A

management of complex systems according to a set of rules and trends

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4
Q

markets

A

two parties gather to exchange goods or services

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5
Q

where must a market take place

A

in an environment governed by laws of supply and demand

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6
Q

can markets be physical or virtual

A

both

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7
Q

technology creates

A

new opportunities and threats

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8
Q

When to use Pestle

A

help understand opportunities and threats

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9
Q

PESTLE stands for

A

Political influences and events
Economic influences
Social influences
Technology influences
Legal influences
Ecological/ environmental influences

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10
Q

When to use porter’s five forces

A

look at the competitive environment

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11
Q

how to use porter’s five forces

A

look at the strength of each force

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12
Q

Porter’s five forces

A

New entrannts
Rivalry against competitors
Substitutes
Power of buyers
Power of suppliers

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13
Q

when to use Porter’s generic strategies

A

generate superior competitive performance

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14
Q

Porter’s generic strategies

A

cost leadership
differentiation
focus

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15
Q

how is technology affecting customers

A

causing them to have higher expectations

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16
Q

what is the issue with org’s trying to keep up with tech change

A

comes at a higher price

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17
Q

what are the drivers of the digital revolution

A

mobile and internet penetration
connected devices
data analytics and the cloud
user interface
global accessibility
increasing urbanization

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18
Q

mobile and internet penetration

A

more people with phones and access to the internet

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19
Q

connected devices

A

connects to internet

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20
Q

data analytics and the cloud

A

higher need for automated data analytics

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21
Q

user interface

A

more machines = faster and more efficient tasks

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22
Q

global accessibility

A

more people have access to the internet therefore higher connectivity

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23
Q

increasing urbanization

A

more people live in urban areas

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24
Q

the emergence of business ecosystems

A

the environment technology is creating: connected and open
simple and intelligent
fast and scalable

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25
Q

connected and open

A

new levels of trust and accountability with partners and consumers

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26
Q

simple and intelligent

A

decrease and covers complexity organisation can collect more information and use data analytics and insights for decision making

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27
Q

fast and scalable

A

transactions increase
costs decrease

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28
Q

business ecosystem

A

network of organizations who are involved in the delivery of a specific product or service through competition and co-operation

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29
Q

what are traditional markets and ecosystems made up of

A

interactions and participants

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30
Q

participants

A

individual players or organizations within the environment

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31
Q

what are participants defined by

A

function
ability to extend activity or interactions through the environment
range of activities that participants can pursue or undertake in the environment

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32
Q

interactions

A

products or services exchanged amoung participants

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33
Q

what are interactions defined by

A

set of implicit or explicit principles governing conduct in the environment
connecting elements through linkages
speed and direction of content or value exchanged

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34
Q

why must organization operate together

A

to produce something for mutual benefit of the organisation and ecosystems as a whole

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35
Q

organizations can

A

be part of many ecosystems
have different roles in different ecosystems
change roles as the ecosystem changes

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36
Q

how do participants in the ecosystem act together to deliver value

A

through orchestration and mutuality

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37
Q

orchestration

A

can be formal or informal co-ordination for interactions or collaborations among participants in the ecosystem

38
Q

informal orchestration

A

culture of organisation

39
Q

formal orchestration

A

rules

40
Q

orchestrator

A

facilitates orchestartion

41
Q

mutuality

A

enhanced level of co-ordination with shared ideals, standards or goals, formally or informally

42
Q

what have participants done when an ecosystem thrives

A

developed patterns of behavior that streamline the flow of ideas, talent and capital

43
Q

what are the goals of a business ecosystem

A

-to thrive
-have strong barriers of entry
-mechanisms to leverage technology
-achieve excellence in research and business competence
-compete effectively
-driving new collaborators to address rising social and environmental challenges
-trying to decrease costs and get new customers through creativity and innovation
-collaborate, share knowledge, expertise and insight
-create new ways to address needs and desires

44
Q

value creation

A

the act of bringing something of value into existence

45
Q

how do you create value

A

through product development or enhancement or make a new product

46
Q

value capture

A

act or process of appropriating or allocating value

47
Q

how is value captured

A

through transactions or indirectly through an orchestrator

48
Q

value creation in traditional markets

A

linear

49
Q

value creation in ecosystems

A

networked and mutual

50
Q

ways to create value

A

-identify opportunities
-develop competencies
-leverage synergies
(LID)

51
Q

how to determine how to capture value

A

ecosystem archetypes

52
Q

what is used to measure ecosystem archetypes

A

orchestration and complexity

53
Q

complexity

A

a function of the number and diversity of participants, the sophistication of activities within the ecosystem and the range and nature of relationships that exist within that ecosystem

54
Q

high complexity

A

high barriers of entry
low threat of new entrants
role is secure because capabilities can’t be replicated

55
Q

low complexity

A

low barriers of entry
high threat of new entrants
vulnerable position

56
Q

orchestration

A

the extent of an organization’s influence over others within an ecosystem, the formality of ecosystem interactions and the degree of enforceability and compliance

57
Q

tight orchestration

A

orchestrator can influence behavior or actions

58
Q

loose orchestration

A

no one has significant influence and there’s no strong regulation

59
Q

Where on the table is Hornets nest

A

High complexity, Loose orchestration

60
Q

Where on the table is Lion’s pride

A

High complexity, Tight orchestration

61
Q

where on the table is shark tank

A

Low complexity, Loose orchestration

62
Q

where on the table is wolf pack

A

Low complexity, Tight orchestration

63
Q

hornets nest

A

simple ecosystem
value is transferred by payment

64
Q

lions pride

A

decrease threat of new entrants
orchestrator monitors activity
remunerates participants

65
Q

shark tank

A

fend for themselves
identify opportunities
align capabilities
make connections

66
Q

wolf pack

A

decrease barriers of entry
simple activities but complicated environment

67
Q

why do participants need to interact and collaborate

A

-to create opportunity
-to give a unique experience to customers

68
Q

what are the 3 questions participants need to ask to see if they’re contributing significantly

A
  1. The precise role of the participant in the environment
  2. Each participants reach through the environment
  3. the capability or key proposition
69
Q

What are the challenges for regulators

A

-speed of change
-innovator’s find back door
-ecosystems evolve
-innovators cross lines of jurisdiction

70
Q

speed of change

A

regulators need to understand what businesses are offering, their efficacy and consequences
difficult to do in a fast changing environment

71
Q

ecosystems evolve

A

new business models
must make an even playing field but cant because of new models

72
Q

what are the factors that drive customer demands

A

-contextualized interactions
-seamless experience across channels
-anytime, anywhere
-great service
-self service
-transparency
-peer review and advocacy

73
Q

contextualized interactions

A

customers want products that’s tailored to their needs

74
Q

anytime, anywhere

A

access to real time information about the product or service
inventory level, delivery time, track progress

75
Q

how to keep ahead of customer demands

A

-design thinking
-experimental pilots
-prototyping
-brand atomization

76
Q

design thinking

A

design many experiences for one customer

77
Q

experimental pilots

A

look at how customers react to new experiences

78
Q

prototyping

A

even if product isnt 100% ready, release it because you can get customer feedback

79
Q

brand automization

A

-widely distributed
-offered by other providers

80
Q

whats has changed in the new world

A

-creating value
-capturing value
-creating value and society
-regulation
-supply chains - delivering value
-delivering value - assets
-delivering value - building platforms
-delivering value - transforming business

81
Q

creating value

A

more collaboration

82
Q

capturing value

A

need new business models which are flexible and able to adapt quickly

83
Q

creating value and society

A

create new alliances have open investors work effectively with external stakeholder

84
Q

regulation

A

balance protecting public interests and allowing stakeholders to create new markets

85
Q

supply chains - delivering value

A

strategic significance of supply chains has increased because of changes in supply chains

86
Q

supply chains are also called

A

value webs

87
Q

value webs

A

-decrease costs
-improves service levels
-mitigate risk of distribution
-deliver feedback

88
Q

delivering value - assets

A

-can easily collaborate with firms without merge and acquisition
-need to look at complex consequences of the ecosystem

89
Q

delivering value - bulding platforms

A

create and capture value

90
Q

delivering value - transforming business

A

-be innovative
-adapt to change frequently

91
Q

innovators cross lines of jurisdiction

A

new models blur the lines making it easier to cross them

E2 (5 decks)

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