Introduction to Corporate Management Ecosystem

Undoubtedly, human progress in science and technology has produced many rewards and benefits, but it has also adversely impacted both the natural and business ecosystems globally. Thus, sustainable practices are essential requirements of the time. Several studies have confirmed the critical role of the ecosystem in the modern era (Adner & Kapoor, 2010; Kapoor & Lee, 2012; Meyer et al., 2005; Pierce, 2009; Teece, 2007), especially in the fields of innovation, sustainability, and management of technology. However, different authors in the literature have defined it differently. Hence, there is no single agreed-upon definition of the natural ecosystem (Tsujimoto et al., 2018). A simple definition attributed to the Oxford English Dictionary (2017) is that an ecosystem is “a biological system composed of all the organisms found in a particular physical environment, interacting with it and each other. Also in extended use: a complex system resembling this.” In a natural environment, inhabitants interact with one another and as well actively interact with their physical environment. The sustainable ecosystem is the focus of attention among researchers, academics, and practitioners (Kanter, 2017) because the natural world requires a balanced ecosystem for inhabitants to thrive, while imbalanced ecosystems have severe destructive consequences. Therefore, the sustainable ecosystem ensures and promotes the provision and protection of essential resources in the natural setting. Drawing a parallel between the nature and attributes of the natural and business ecosystems, against the backdrop of the continuing expansion of businesses across the globe, the business ecosystem requires equal attention in different forms to contribute to sustainable business management practices. Indeed, a business ecosystem is interconnected—a highly complex network of various stakeholders, organizations, operations, and resources to work in collaboration or compete, while creating invaluable value for all. In other words, to succeed in the complex business environment, companies collaborate to produce innovative ideas, services, and solutions. Thus, sustainable practices are vital components in the due process of business ecosystem. How the corporate management ecosystem in emerging economies of the world is shaping as a promoter and/or inhibitor towards attaining sustainability in the long run is the prime focus of this book.