ECOSYSTEM STRATEGY OF BUSINESS: COMPETITION REALITIES OF THE DIGITAL AGE

Abstract

Digitalization of the economy is changing the nature of economic processes and methods of managing them. Business is transforming from industry-centered to ecosystem-centered one. Strategic alignment in the ecosystem business landscape is becoming an urgent issue. The research objective is to generalize and systematize theoretical and methodological approaches to developing and implementing a business ecosystem strategy. Research methods: analysis and synthesis, scientific abstraction, deduction, and systematic approach. It is established that the change in competition conditions and the revision of the business strategy methodology have led to the blurring of industry boundaries, transformations in consumer behavior, and technological alterations. Business ecosystems have begun to perform the function of value creation. It is found that the transition to the E2H business model is anticipated: new markets are formed around current human needs. The author considers 2 approaches to defining a business ecosystem: as a community of participants and as a structure. It is concluded that the structural approach should be used to draw up a business ecosystem strategy. The characteristic features of business ecosystems and the differences between a solution ecosystem and a transaction ecosystem are characterized. It is established that the key problem in ecosystems is the alignment and coordination of participants’ actions. A successful BES should provide a joint value proposition for both consumers and partners. The roles of participants (orchestrator, supplier, and complementary stakeholder) are characterized. The author formulates the concept of ecosystem business strategy and studies its relationship with corporate and competitive strategies. The specifics and potential of the ecosystem diversification strategy are characterized. It is established that the main source of competitive advantage is the synergy of relationships. It is determined that the ecosystem strategy allows participants to gain a set of important advantages, but it is crucial to understand the specifics of ecosystem competition to succeed. The formulation of an ecosystem strategy is carried out following the life cycle of business ecosystems and should begin with the formation of a minimum viable ecosystem. The stages of developing an ecosystem strategy are specified.