The rise of business ecosystems

Business ecosystems have been described as dynamic and co-evolving communities of diverse actors who create and capture new value through both collaboration and competition. These tightly integrated networks of organizations are a shift from the siloed and self-contained corporations of the past. Smart cities see the rise of such thriving business ecosystems around key areas such as health care, transportation, and education. A central aspect of this transition to dynamic and collaborative networks is that firms can begin to “deploy and activate assets they neither own nor control” and engage larger numbers of ecosystem participants.

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