Introduction to corporate management ecosystem

ul Haque, A. and Yamoah, Fred (2023) Introduction to corporate management ecosystem. In: Yamoah, Fred and ul Haque, A. (eds.) Corporate Management Ecosystem in Emerging Economies. Cham, Switzerland: Springer Nature Switzerland AG, pp. 1-13. ISBN 9783031415777.

Abstract

Undoubtedly, the human progress in science and technology has reap many rewards and benefits, but technological advancement has certainly created an adverse impact on the ecosystem. Thus, sustainable practices are the essential requirement of the time. Nonetheless, it is important to explore ecosystem. Number of studies have confirmed the importance of ecosystem growing in the modern era ((Adner and Kapoor, 2010, Kapoor and Lee, 2013, Meyer et al., 2005, Pierce, 2009, Teece, 2007), especially in the field of innovation, sustainability, and management of technology. Different authors in the literature have defined it differently, yet there is no single agreed definition (Tsujimoto et al. 2018). Simple definition attributed from the Oxford English Dictionary (2017) is that “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 physical environment. The sustainable ecosystem is focus of attention among the researchers, academics, and practitioners (Kanter, 2017) because natural world requires balanced ecosystem for inhabitants while imbalanced ecosystem have severe destructive consequences. Therefore, the sustainable ecosystem ensures and promote the essential resources existence in natural settings. With the expansion of businesses across the globe, business ecosystem requires equal consideration to contribute the sustainable practices. Business Ecosystem is interconnected and a highly complex network of various stakeholders, organizations, operations, and resources to work in collaboration or compete while creating invaluable items benefitting all. In other words, to succeed in the complex business environment, companies collaborate to produce innovative items, services, and solutions. Thus, sustainable practices are vital component in the due process of business ecosystem. How the corporate management ecosystem could enable the emerging economies in attaining sustainability in the long run is the prime focus.

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