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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
connected and open
new levels of trust and accountability with partners and consumers
26
simple and intelligent
decrease and covers complexity organisation can collect more information and use data analytics and insights for decision making
27
fast and scalable
transactions increase costs decrease
28
business ecosystem
network of organizations who are involved in the delivery of a specific product or service through competition and co-operation
29
what are traditional markets and ecosystems made up of
interactions and participants
30
participants
individual players or organizations within the environment
31
what are participants defined by
function ability to extend activity or interactions through the environment range of activities that participants can pursue or undertake in the environment
32
interactions
products or services exchanged amoung participants
33
what are interactions defined by
set of implicit or explicit principles governing conduct in the environment connecting elements through linkages speed and direction of content or value exchanged
34
why must organization operate together
to produce something for mutual benefit of the organisation and ecosystems as a whole
35
organizations can
be part of many ecosystems have different roles in different ecosystems change roles as the ecosystem changes
36
how do participants in the ecosystem act together to deliver value
through orchestration and mutuality
37
orchestration
can be formal or informal co-ordination for interactions or collaborations among participants in the ecosystem
38
informal orchestration
culture of organisation
39
formal orchestration
rules
40
orchestrator
facilitates orchestartion
41
mutuality
enhanced level of co-ordination with shared ideals, standards or goals, formally or informally
42
what have participants done when an ecosystem thrives
developed patterns of behavior that streamline the flow of ideas, talent and capital
43
what are the goals of a business ecosystem
-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
value creation
the act of bringing something of value into existence
45
how do you create value
through product development or enhancement or make a new product
46
value capture
act or process of appropriating or allocating value
47
how is value captured
through transactions or indirectly through an orchestrator
48
value creation in traditional markets
linear
49
value creation in ecosystems
networked and mutual
50
ways to create value
-identify opportunities -develop competencies -leverage synergies (LID)
51
how to determine how to capture value
ecosystem archetypes
52
what is used to measure ecosystem archetypes
orchestration and complexity
53
complexity
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
high complexity
high barriers of entry low threat of new entrants role is secure because capabilities can't be replicated
55
low complexity
low barriers of entry high threat of new entrants vulnerable position
56
orchestration
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
tight orchestration
orchestrator can influence behavior or actions
58
loose orchestration
no one has significant influence and there's no strong regulation
59
Where on the table is Hornets nest
High complexity, Loose orchestration
60
Where on the table is Lion's pride
High complexity, Tight orchestration
61
where on the table is shark tank
Low complexity, Loose orchestration
62
where on the table is wolf pack
Low complexity, Tight orchestration
63
hornets nest
simple ecosystem value is transferred by payment
64
lions pride
decrease threat of new entrants orchestrator monitors activity remunerates participants
65
shark tank
fend for themselves identify opportunities align capabilities make connections
66
wolf pack
decrease barriers of entry simple activities but complicated environment
67
why do participants need to interact and collaborate
-to create opportunity -to give a unique experience to customers
68
what are the 3 questions participants need to ask to see if they're contributing significantly
1. The precise role of the participant in the environment 2. Each participants reach through the environment 3. the capability or key proposition
69
What are the challenges for regulators
-speed of change -innovator's find back door -ecosystems evolve -innovators cross lines of jurisdiction
70
speed of change
regulators need to understand what businesses are offering, their efficacy and consequences difficult to do in a fast changing environment
71
ecosystems evolve
new business models must make an even playing field but cant because of new models
72
what are the factors that drive customer demands
-contextualized interactions -seamless experience across channels -anytime, anywhere -great service -self service -transparency -peer review and advocacy
73
contextualized interactions
customers want products that's tailored to their needs
74
anytime, anywhere
access to real time information about the product or service inventory level, delivery time, track progress
75
how to keep ahead of customer demands
-design thinking -experimental pilots -prototyping -brand atomization
76
design thinking
design many experiences for one customer
77
experimental pilots
look at how customers react to new experiences
78
prototyping
even if product isnt 100% ready, release it because you can get customer feedback
79
brand automization
-widely distributed -offered by other providers
80
whats has changed in the new world
-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
creating value
more collaboration
82
capturing value
need new business models which are flexible and able to adapt quickly
83
creating value and society
create new alliances have open investors work effectively with external stakeholder
84
regulation
balance protecting public interests and allowing stakeholders to create new markets
85
supply chains - delivering value
strategic significance of supply chains has increased because of changes in supply chains
86
supply chains are also called
value webs
87
value webs
-decrease costs -improves service levels -mitigate risk of distribution -deliver feedback
88
delivering value - assets
-can easily collaborate with firms without merge and acquisition -need to look at complex consequences of the ecosystem
89
delivering value - bulding platforms
create and capture value
90
delivering value - transforming business
-be innovative -adapt to change frequently
91
innovators cross lines of jurisdiction
new models blur the lines making it easier to cross them

E2 (5 decks)

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