Navigating Risk When Entering and Participating in a Business Ecosystem

  • Smith D
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Abstract

Entrepreneurs typically have limited resources during the start-up phase of a business. Business ecosystems are a strategy for entrepreneurs to access and exchange many different aspects of value, resources, and benefits. However, there may be business risks for entering a particular type of ecosystem, and further risks may be encountered after entering and participating in a business ecosystem. These risks are significant and can inhibit a startup's growth. In this article, the literature on business ecosystems is reviewed as it relates to risk to discover insights of relevance to entrepreneurs, top management teams, and business-ecosystem operators. First, the published research is organized into two streams: i) risks relating to categories of business ecosystems, and ii) risks relating to participating in business ecosystems. Then, the problem is abstracted to develop a potential strategy for managing these risks, which features a pre-entry inspection followed by realtime resource management. Finally, five recommendations are offered for entrepreneurs seeking to enter and participate in business ecosystems.

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APA

Smith, D. (2013). Navigating Risk When Entering and Participating in a Business Ecosystem. Technology Innovation Management Review, 3(5), 25–33. https://doi.org/10.22215/timreview685

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