NEW ECONOMY AS A SYSTEM-FORMING FACTOR AND DRIVER OF BUSINESS ECOSYSTEM DEVELOPMENT

Keywords: business ecosystem, new economy, drivers of business ecosystems

Abstract

The main goal of the article is to establish, generalize and describe the drivers of the emergence and development of business ecosystems, as well as their system-forming factors in the conditions of the new economy. In recent years, the impact of globalization, information and communication technologies, innovations, knowledge, and new forms of work on business models and the structure of both individual firms and global business systems has already become evident, which can be better understood using the biological analogy of ecosystems. Using several scientific research methods, including comparison, analysis, synthesis, generalization. We understand a business ecosystem as a highly adaptive and dynamic architecture of deeply integrated and multi-vector connected business elements, while business units (elements – firms, organizations, etc.) are located within the same environment, connected by a common goal, and promoting value propositions. Usually, business ecosystems are associated with the development of the Internet, but information technologies alone are not enough to justify the emergence of qualitatively new business systems - business ecosystems. That is why such a concept as "new economy" can serve as a foundation for business ecosystems, that is, not only be a system-forming factor, but also act as a driver of their development as the new economy develops. To substantiate this hypothesis, the article summarizes the drivers of the development of the new economy: globalization of the economy, information and communication technologies and innovations, knowledge and intellectual capital, work, and employment. As a result of such factors and drivers, the following characteristic features of the new economy are summarized: high availability of goods and services based on information technologies, the offer is customized and goes online, the development of cooperation and partnership, constant information exchange between all elements of socio-economic systems and the environment, multi-vector integration of companies and services, network organization of the economy, global scale of competition and dynamism of world markets, human capital, information, innovations and knowledge, new forms of employment, employee individualization. Comparing these characteristic features with the characteristics of business ecosystems, it was determined that the main drivers of the development of business ecosystems are multi-vector integration of companies and services, network organization of the economy and the development of cooperation, partnership, constant information exchange between all elements of socio-economic systems and the environment.

References

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Published
2022-12-27
How to Cite
Lemeshko, M. (2022). NEW ECONOMY AS A SYSTEM-FORMING FACTOR AND DRIVER OF BUSINESS ECOSYSTEM DEVELOPMENT. Economy and Society, (46). https://doi.org/10.32782/2524-0072/2022-46-35
Section
ECONOMICS