Business Ecosystem/ Ecosystem of Business
What is a Business Ecosystem?
A business ecosystem is the system of associations — including suppliers, providers, merchants, clients, contenders, government organizations, etc. They are engaged with the conveyance of an explicit item or administration through both competition and participation.
The thought is that every element in the environment influences and is influenced by the others, making a continually developing relationship. In that environment, every element must be adaptable and versatile so as to make due. A business ecosystem is similar to that of an environmental, biological ecosystem. The ecosystem keeps everyone surviving.
How is it related to the biological ecosystem?
We all have learned that grass grows due to energy obtained from the soil. Insects are dependent on the grass. Frogs depend upon insects. A snake feeds on frogs and eagles prey snakes. When the eagle dies, it decomposes into the soil which chemically converts into energy for the growth of grasses.
This cycle continues and it is how every creature survives. Now, think about if there were zero frogs or any other such creatures. This will disturb the whole biological ecosystem. The same rule when applies to business, then it can be termed as a business ecosystem.
Example of a business ecosystem:
Google owns Youtube. For instance, Youtube is a giant eagle. There are a lot of Youtube account holders/ content creators. Youtube provides a platform for those creators to show their talent. When advertisers purchase ad space, Google shows the ad of those advertisers on Youtube through content creators.
When viewers click ads, advertisers profit from this and Youtube creators also earn some percentage of the share of the ad expenses. While content creators compete among themselves to create more quality videos and rank high for more ads and earning.
Every creator wants to earn subscribers. Finally, there are billions of contents and millions are qualitative. Google uses those contents to sell more ads. In fact, all the creators and viewers are working for Youtube while doing this. Youtube is being more popular because it maintained the business ecosystem.
Roles in the ecosystem
We are all playing our role and satisfying the needs of each other. Youtube gets the advertisements and some part of earning goes to the hands of video creators. Both, Youtube and creators are earning. Advertisers are expanding their business through advertisements on Youtube.
All the viewers entertain themselves and get some utility by watching videos. A win-win situation for all the parties; Advertising companies, Youtube, Creators, Viewers have been set. They all are working to make each other successful. This business ecosystem is what every blogger should understand. Don’t go alone. Collaborate with fellow bloggers.
What should I do?
If you want sustainable income through blogging, involve yourself in this chain. Work for your visitors, engage them with quality content, sponsor gifts and awards to them, award prizes through contests, give them space for guest blogging, use roundup posting and create your own business circle.
There are other examples of business ecosystems for success stories. A business ecosystem is a reason behind Android’s success. People entered into making apps, software, and games for Android.
People started purchasing Android smartphones rather than other operating systems due to the multiplicity of choices in Android. Now, the developers are earning, software and games are earning, people are satisfied with more engagements.
Create an environment to benefit every person. Go for guest posting, allow guest posts and round up posts.
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