A business ecosystem is made up of businesses which are not regarded as separate units with particular functions but as ecosystems where there actions affects the whole ecosystem in place and thus focus on effective strategies that can give them an edge in the market. A business ecosystem involves the area of operation of a business together with the various aspects involved in bringing about the successful operations of the business which are supply and demand which are further fueled by the supply chain together with producers, middlemen and the end users (Iansiti & LEvien, 2004). The ecosystem thus involves organization that are network and are mostly interdependent on each other for the effective business environment. As such the operations of one business affects the other business and the process continues and those companies that survive usually need to adapt and come up with better strategies to stay afloat in the market.
All businesses function within an ecosystem since they have different networks about their product and how they affect other players in the market. The only businesses that may not have ecosystem are those that are monopolies. Since all business function through an ecosystem they need to adapt to the various trends and as noted by Walmart in Organizational Ecosystem Case Study – Wal-Mart, it helps various businesses in its ecosystems especially where it has improved on its operations with suppliers where they check for their products before they supply. As such all businesses, participate in ecosystems since their actions in one way or another affect other businesses.
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