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Firms’ ecosystems: Developing a research programme

Author

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  • Evgeny V. Popov

    (Ural Institute of Management (RANEPA), Ekaterinburg, Russia)

Abstract

Managing a firm’s external environment involves considering not only relationships with economic partners, but also the influence of various elements of its ecosystem. In the article, we develop stages and methods for assessing the formation of an ecosystem based on a scientific review. The theoretical framework of the study is institutional economics and the concept of ecosystem. The method of system logical analysis was used. The research data are retrieved from scientific papers indexed in the global databases Web of Science Core Collection and Scopus in 2015–2022. Having analyzed the existing literature, we formulated the definition of a firm’s sustainable ecosystem interpreted as the external environment of a business entity with a comprehensive set of infrastructure elements, stable network interactions, the extensive use of digital technologies, the essential institutional support, and optimal transaction costs. In the formation of a firm’s sustainable ecosystem, there are five stages providing for the development of infrastructural, network, digital, institutional, and financial parameters of this system. These factors ensure the benefits of a sustainable ecosystem consisting in diverse economic activities, strong relationships, fast decision-making, stable strategic development, and reduced costs for maintaining the ecosystem. The novelty of the study lies in the systematization of the stages and methods for the formation of a firm’s sustainable ecosystem based on institutional economics, which adds to the existing methods for assessing business ecosystems. We have highlighted the avenues for further studies on expanding the toolkit for evaluating various aspects of a firm’s ecosystem functioning.

Suggested Citation

  • Evgeny V. Popov, 2023. "Firms’ ecosystems: Developing a research programme," Upravlenets, Ural State University of Economics, vol. 14(1), pages 2-15, March.
    • Handle: RePEc:url:upravl:v:14:y:2023:i:1:p:2-15
    DOI: 10.29141/2218-5003-2023-14-1-1
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    References listed on IDEAS

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    1. Uzunca, Bilgehan & Sharapov, Dmitry & Tee, Richard, 2022. "Governance rigidity, industry evolution, and value capture in platform ecosystems," Research Policy, Elsevier, vol. 51(7).
    2. Oghazi, Pejvak & Parida, Vinit & Wincent, Joakim & Mostaghel, Rana, 2022. "Ecosystems transformation through disruptive innovation: A definition, framework and outline for future research," Journal of Business Research, Elsevier, vol. 147(C), pages 16-26.
    3. Bo Liu & Yun-Fei Shao & Guowei Liu & Debing Ni, 2022. "An Evolutionary Analysis of Relational Governance in an Innovation Ecosystem," SAGE Open, , vol. 12(2), pages 21582440221, April.
    4. Riquelme-Medina, Marta & Stevenson, Mark & Barrales-Molina, Vanesa & Llorens-Montes, Francisco Javier, 2022. "Coopetition in business Ecosystems: The key role of absorptive capacity and supply chain agility," Journal of Business Research, Elsevier, vol. 146(C), pages 464-476.
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    More about this item

    Keywords

    ecosystem; firm; infrastructure; networks; digitalization; institutional atlas; transactional function;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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