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Business Ecosystems: definition, managing and their roles

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Explain the concept of "business ecosystems". How does the management of a business ecosystem differ from traditional businesses? What is a keystone and what is its role in a business ecosystem? What factors influence the success of a keystone strategy? Identify additional examples of hub companies other that the ones listed in the assigned reading.

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Solution Summary

A definition of business ecosystems is given. How a management of a business ecosystem differs from traditional businesses is determined.

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Here are some high level concepts regarding your question. I do not know any of the companies listed in your assignment, but I have provided some examples of Hub companies.

A business ecosystem in an economic web made up of a group of organizations that are related in some way along with stakeholders who are operating within the economic web, which compete and work together in multiple economic relationships. These relationships grow in a related fashion over time as the business environment evolves.

Management of an ecosystem is far more complex than traditional business management, as it requires consideration of the stakeholders. In most business management the ...

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