




































AGORA International Journal of Economical Sciences, http://univagora.ro/jour/index.php/aijes 

ISSN 2067-3310, E-ISSN 2067-7669 

Vol. 18, No. 1 (2024), pp. 144-156 

 

144 
 

ENTERPRISE ECOSYSTEM AND SUSTAINABLE 

DEVELOPMENT: IMMANENT INTERDEPENDENCE 

 

M. NAHARA 

 

Maryna Nahara 

West Ukrainian National University, Ukraine  

https://orcid.org/0000-0003-3052-6911, E-mail: nahara.marina@gmail.com  

 

Abstract: Global hypercompetition necessitates the development of new models of 

business collaboration among economic entities. Enterprise ecosystem is one form of 

organization and support for entrepreneurship that facilitates the transition from competition 

to cooperation among business entities. The article explores various theoretical approaches to 

defining the concept of ecosystem that enabled to propose the author’s interpretation. It is 

substantiated that the entrepreneurial ecosystem offers optimal pathways and effective tools 

for fostering innovation and economic growth, grounded in the principles of sustainable 

development. A comparative analysis of organizational models of activity is conducted. 

Compared to other organisational models, the ecosystem entails the transformation of 

hierarchical management mechanisms, giving rise to a dynamic environment facilitating the 

free exchange of knowledge, information, resources, technologies, and competencies. The 

synergistic model of the enterprise ecosystem within the framework of sustainable development 

is proposed. The model exhibits several characteristic features: cross-industry interaction, 

which maximizes synergies more effectively than corporate ties; diversification of activities 

with a focus on lean innovation; emphasis on environmental sustainability and the 

commercialization of developments; flexibility of business processes; autonomy of participants 

and adherence to voluntary cooperation principles. The article substantiates the key 

improvement strategies that enterprises should implement to achieve synergistic effects and 

sustainable development goals within the enterprise ecosystem. 

Keywords: ecosystem, sustainable development, partnership, ecosystem life cycle, 

synergistic effect. 

 

INTRODUCTION 

The transformation of national economies in the context of the growing Fifth Industrial 

Revolution is accompanied by multi-vector, large-scale changes across all sectors. At its core, 

this involves structuring the global economy, advancing sustainable development initiatives, 

fostering circular business models, and establishing ecosystems that are inherently shaped by 

innovative changes in global economic processes. In the context of intensifying international 

competition, business entities that effectively develop and implement innovative projects, 

leveraging their resource capabilities productively and maximizing their scientific and 

technological potential, will gain a competitive advantage.  

To realize these advantages, it is imperative to establish an appropriate information and 

technology framework and develop a new management model – an ecosystem – designed to 

facilitate the digital transformation of enterprises, foster innovation, promote the intellectual 

https://orcid.org/0000-0003-3052-6911
mailto:nahara.marina@gmail.com


Maryna NAHARA 

 

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and professional growth of employees, and modernize business processes in accordance with 

evolving market conditions. This highlights the imperative to tackle challenges associated with 

the exploration of organizational and management models – ecosystems that provide optimal 

methods and efficient tools to promote innovation and economic growth, all anchored in the 

principles of sustainable development. 

The challenges posed by the accelerated process of globalization and 

transnationalization, coupled with the unpredictable nature of the global economy amidst 

prolonged crises, necessitate that business entities realign their economic, technological, 

innovative, and environmental development strategies. The growing role of the ecosystem is a 

polymorphic phenomenon today and an important element of management in a turbulent 

business environment.  

The issues of environmental protection and the rational use of natural resources, crucial 

for societal well-being, industrial development, and public health, are intricately intertwined 

with the modern concept of VUCA – Volatile, Uncertain, Complex, and Ambiguous. VUCA 

represents a turbulent and volatile business environment where stability cannot be guaranteed. 

Simultaneously, the significance of the enterprise ecosystem is on the rise, necessitating the 

consideration of changes in both internal and external environments, and the assurance of 

control amidst escalating complexity and inherent instability. At the present stage, long-term 

economic development is only achievable through the establishment of a new ecosystem for 

resource utilization, aimed at fostering the growth of various economic activities. Moreover, 

the theoretical underpinning of the enterprise ecosystem constitutes an integral aspect of the 

concept of sustainable development. 

 

The evolution of the ecosystem concept 

The dynamic shifts in competitive forces towards innovation, the rapid adoption of new 

technologies, and a receptiveness to change have transformed the primary objective of 

prevailing enterprise strategies. Now, it’s not only about attaining competitive leadership but 

also about fostering effective cooperation to ensure sustainable development of each partner 

and society as a whole. Ecosystem is one of the organizational forms for entrepreneurship that 

facilitates the coordination of interactions between business entities, guiding them from 

dynamic competition towards productive partnerships. 

The concept of ecosystem represents a post-neoclassical approach in economic science, 

as evidenced by its distinct features: the advancement of synergetics concepts, the widespread 

adoption of co-evolution principles, and the utilization of interdisciplinary integrated 

approaches within the realm of entrepreneurship. 

Understanding the fundamentals of utilizing ecosystems in economic theory requires 

an examination of the historical origin of the prefix “eco”. The earliest recorded use of the 

prefix “eco” dates back to the writings of Hesiod in the 8th to 7th centuries BC (Alvedalen & 

Boschma, 2017).  Hesiod described an autonomous household, the “oikos” (οἶκος), which is 

the basic economic unit of a state and encompasses various activities, products and citizens. 

The terms “ecology” and “economy” are derived from the concept of “oikos”. 

There are different scientific views on the formation of the concept of ecosystem and 

its relationship with the economy. Rothschild (1991) in his work “Bionomics: Economy As 

Ecosystem” considers the economy to be an analogue of a biological ecosystem. The author 



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emphasised the nature of cooperation between economic agents, their innovativeness and 

relations with the external environment. 

According to Muegge and Mezen (2017), the greatest influence on the emergence and 

development of the concept of ecosystems in the economy was made by such areas of economic 

theory as organisational ecology, neo-institutional theory, and the concept of dynamic 

capabilities of the enterprise. Additionally, these theories are part of the strategic management 

concept, which considers ecosystem as a competitive advantage of the enterprise in value 

creation. 

Examining ecosystem through the lens of entrepreneurship allows us to trace its 

evolutionary development, which can be attributed to theories such as the cluster theory of 

economic development (Bergman & Feser, 1999), the concept of regional innovation systems 

(Cooke, 1996), and the theory of entrepreneurial networks (Hite & Hesterly, 2001). 

The pioneer of the concept of ecosystems in the realm of entrepreneurship is the British 

economist Valdes (1988), who first introduced this concept to the scientific community in 

1988. In his article “Entrepreneurial Ecosystem: Towards a Theory of New Business 

Formation”, he asserts that ecosystem structure in the process of new business formation 

contains two dynamic elements: the entrepreneur and the entrepreneurial environment. 

In the book “The Emergence of a New Corporate Form”, Moore (1998) emphasizes that 

“Entrepreneurial ecosystems, much like successful species in nature, emerge from essential 

resources. Ecosystems condense from capital, customer interests, and the talent generated by 

innovation, mirroring how successful species thrive from sunlight, water, and nutrients in the 

soil” (Moore, 1998, p. 170). 

Noteworthy is the opinion of Spilling (1996), who, in his works on regional 

entrepreneurship, states that entrepreneurial ecosystem consists of various actors, roles, and 

environmental factors that interact with each other. 

A similar perspective is shared by Cohen (2006), who observes that “Entrepreneurial 

ecosystems are a diverse set of interdependent actors within a geographical region that 

influence the formation and trajectory of the entire group of actors and, possibly, the economy 

as a whole” (Cohen, 2006, p. 4). 

Isenberg’s (2010) interpretation of the ecosystem holds practical significance. The 

scientist believes that entrepreneurial ecosystem consists of a set of individual elements, such 

as leadership, culture, capital markets, and customers, which are interconnected. 

Mason and Brown (2015) define the concept of ecosystem through the lens of 

partnership. The authors argue that “Ecosystem is a set of interrelated business entities, 

organizations, institutions, and processes, formally and informally united for interconnection” 

(Mason & Brown, 2015, p. 53). 

A similar opinion is shared by Adner (2017), who defines ecosystem as follows: “A set 

of networks of suppliers, distributors, outsourcing companies, producers of related goods or 

services, technologies, providers, and other organizations that influence and are influenced by 

a company by creating and delivering their own offerings” (Adner, 2015, p. 48). 

The innovative aspect of ecosystems is emphasized by Autio and Thomas (2014). The 

scientists note that “ecosystem is a network of interdependent organizations linked to a central 



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firm or platform, including a producer and external partners, which together create new value 

through innovations” (Autio & Thomas, 2014, p. 90). 

The technological orientation in defining ecosystems is evident in the scholarly work 

of Adomavicius, Boxstedt, and Kaufman (2007). These scientists argue that ecosystem 

comprises a collection of interdependent technologies and technological advancements that 

influence evolutionary processes. 

Thus, an analysis of publications dedicated to ecosystem research reveals that scientists 

possess a deep understanding of existing challenges. Furthermore, it demonstrates the gradual 

formation of theoretical, methodological, and methodical approaches aimed at addressing these 

issues. From the generalization of views on the essence of ecosystem, five scientific areas of 

ecosystem interpretation through the prism of sustainable development emerge. These include 

the rational use of resources, environmental protection, economic growth, improvement of 

social protection, and consideration of the interests of present and future generations. 

 

The essence and the main stages of ecosystem development 

The ecosystem concept enables to reevaluate agglomeration interaction across several 

dimensions: regional (national, sectoral, municipal ecosystems), sectoral (industrial, media, 

financial, etc.), and functional (entrepreneurial, innovative, digital). The goal of ecosystem is 

to achieve coordinated development among its stakeholders by integrating requirements, rights, 

and responsibilities. Consequently, coevolution becomes a dynamic component of the business 

ecosystem, representing the overarching goal of its evolution. Coevolution entails the 

attainment of new system properties, the realization of social and economic effects, and both 

quantitative and qualitative changes in the processes of cooperation and competition. 

It is worth noting that, unlike clusters and network groups, the initiation of ecosystem 

association does not solely belong to one participant. Cooperation within the ecosystem is 

driven by self-organization, where each member benefits from the others. Self-organization 

underpins the principles of cooperation and partnership, serving as the foundation for relations 

among ecosystem participants and distinguishing ecosystem from other organizational models. 

A comparative analysis of organisational models is presented in Table 1. 

 

Table 1 

Comparative characteristics of organisational models 

Comparison 

criteria 

Cluster Network organisation Ecosystem 

1. The purpose of 

the formation 

Increasing the 

competitiveness of an 

industry or region 

The utilization of 

features, resources, and 

specific advantages for 

the collaborative 

implementation of 

entrepreneurial projects. 

Initiating and 

implementing 

business innovations 

or a unique product 

2. Boundaries of 

the association 

Geographic or sectoral The value chain of a 

particular product or 

service 

Cross-sectoral, cross-

territorial 



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3. Criteria for 

mergers 

By stages of the 

production process 

Along the chain of 

creation and sale of 

products or services 

By stages of the life 

cycle of a new 

product or new 

technology 

4. Relationships 

between 

participants 

Internal competition  Consolidation of goals Cooperation and 

partnerships 

5. Opportunity to 

become a 

member 

Restrictions and 

requirements for 

participants 

Specific rules for entering 

the system 

High degree of 

openness 

6. Management Existence of 

governing bodies at 

the state or regional 

level 

The management body 

belongs to the initiator of 

the network association 

Self-organisation 

Source: Wurth et al., 2021 

 

Based on the information in Table 1, it can be argued that the differences between these 

models are not fundamental, but reflect the goals and challenges of certain stages of economic 

development. It is worth noting that, unlike other organisational and economic models of 

development, ecosystems have three important advantages: they provide access to multi-vector 

opportunities for innovative growth, facilitate rapid scaling, and are flexible and models. 

So, it can be concluded that in our opinion, ecosystem is an integrated adaptive system 

that includes a complementary set of active subjects, types of activities, cooperative relations, 

internal and external environment factors (social, economic, infrastructural, and institutional) 

that provide for the efficient use of human, material, and intellectual resources for the purpose 

of sustainable development. 

 

The scope of the study 

In line with the theoretical framework previously outlined, which emphasizes the 

conceptual foundation of ecosystems, the subsequent sections of the article will present 

fundamental findings, concentrating on the following objectives:  

 to justify the growing interest and relevance of research in the field of 

entrepreneurial ecosystems; 

 to outline the relationship between the enterprise ecosystem and the innovation 

ecosystem; 

  to determine the main stages of ecosystem development 

 to substantiate key development vectors that enterprises need to implement in order 

to ensure the leadership position of the entrepreneurial ecosystem; 

 to develop the synergistic model of enterprise ecosystem within the framework of 

sustainable development. 

The proposed synergistic model includes fostering collaboration, innovation, and 

mutual benefit among ecosystem participants, as well as implementing sustainable practices 



Maryna NAHARA 

 

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and policies that promote the triple bottom line of economic prosperity, environmental 

stewardship, and social equity. 

 

METHODOLOGY 

This article is based on secondary sources of data, which were obtained from published 

books, journals, and research papers. The study adopts a qualitative research approach. 

 

RESULTS 

The increasing interest and relevance of research in the field of creating and ensuring 

effective enterprise ecosystems can be attributed to objective reasons. Firstly, through the 

remarkable results achieved by ecosystems. For instance, 7 out of the 10 largest companies in 

the world employ the concept of ecosystems. According to the BCG Henderson Institute’s 2022 

analysis, companies operating on the principles of the ecosystem include Alphabet, Amazon, 

Apple, Facebook, Microsoft, Alibaba, and Tencent (Jafarov & Szakos, 2022).). 

The second reason for the creation and development of entrepreneurial ecosystems is 

the transformation of traditionally structured industry markets. According to research 

conducted by “Accenture” analysts, it’s noteworthy that ecosystems serve as a catalyst for 

reshaping various industries, leading to “tectonic shifts” among them. Seventy-six percent of 

surveyed business leaders agree that over the next 5 years, business models will undergo re-

engineering due to the impact of ecosystems (Velt et al., 2020). 

Thirdly, the enterprise ecosystem model also appeals to companies that are not 

necessarily aiming for leadership positions in global rankings. Their goal is to achieve and 

sustain a high level of competitiveness. In the face of turbulent changes, many companies 

struggle to operate independently. They require collaboration with partners, involving the 

sharing of unique technologies, databases, customer information, key competencies, and 

mechanisms for commercializing innovations. The formation of enterprise ecosystem enables 

increased flexibility and reduces the time required for making relevant management decisions, 

obtaining necessary infrastructure support, distributing risks, and converting the knowledge 

and skills of human resources into new technologies. 

Entrepreneurial ecosystem is an adaptive form of partnership among actors from 

various sectors of the economy. It integrates the outcomes of interdisciplinary research and 

development to collaboratively address complex problems, primarily of a practical nature. 

A key condition for the formation and successful implementation of entrepreneurial 

ecosystem projects is the presence of a project initiator who is deeply committed to its success, 

along with a favourable environment that offers free market access, financial and other forms 

of support, as well as knowledge and information. Thanks to the systemic functions of 

entrepreneurial ecosystem, the potential for development among actors increases, leading to 

the emergence of new forms of multi-vector cooperation within the context of economic 

transnationalization. On the other hand, the likelihood of entrepreneurial ecosystem’s survival 

also increases as its participants’ social, economic and environmental efficiency grows. 

The term “enterprise ecosystem” is most closely related to the term “innovation 

ecosystem”. The conceptual foundations of enterprise ecosystems are presented in studies of 

regional innovation systems, which emphasize the interconnection of formal and informal 

institutions and innovative developments. 



ENTERPRISE ECOSYSTEM AND SUSTAINABLE DEVELOPMENT: 

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A number of researchers, such as Echterhoff, and Amshoff (2013),  Poetz, and Prügl 

(2019), have studied the impact of inter-sectoral interaction within industries on the results of 

innovation activities. As noted by authors N. Echterhoff and B. Amshoff (2013), there is a need 

to explore new ways of leveraging production potential to innovate. Creating dynamic 

entrepreneurial ecosystems based on innovation is one way to address this problem. 

At various times, researchers have emphasized the necessity of eliminating inter-

sectoral barriers to stimulate the innovation process (Spigel, 2020). This involves combining 

unique knowledge and resources from different industries, as well as facilitating free 

technology transfer. This thesis is corroborated by Farhadi’s (2019) published book, “Cross-

Industry Ecosystems”, in which the author elaborates on the theoretical and methodological 

foundations of the new concept. Farhadi (2019) emphasizes the complexity and necessity of 

inter-sectoral economic growth. 

Synthesizing the essence of the enterprise ecosystem, it can be defined as a localized 

spatial complex comprising hierarchical structures, business processes, and infrastructure 

facilities that interact to create the necessary conditions and a conducive environment for 

generating new resource combinations and facilitating knowledge transfer to commercialize 

innovations. Today, the formation and development of entrepreneurial ecosystems are 

prioritized, driven by the necessity to consider the interdisciplinary nature of modern 

innovations, the practical value of multidisciplinary competences, and the importance of inter-

sectoral collaboration. 

It is worth noting that entrepreneurial ecosystems do not have territorial boundaries - 

cooperation is carried out by participants from different territories and industries. Enterprise 

ecosystems do not have a defined timeframe - the interaction of specific participants is carried 

out in accordance with the requirements of innovative engineering projects. The consolidating 

factors of the enterprise ecosystem are key competencies, unique knowledge, the latest 

technologies and relevant information. The environment formed based on the principles of the 

ecosystem model enables each participant to effectively achieve their digitization goals, 

initiating, developing, and implementing innovative technologies and business processes, 

thereby achieving a powerful synergistic effect. 

The trend of ecosystem integration contributes to the formation of an environment for 

the active development of centers of social and economic growth and ecological balance, 

fostering synergies through cooperation between enterprises and organizations in the value 

creation process. 

The theoretical and practical aspects of forming enterprise ecosystem within the 

framework of sustainable development are summarized in the developed synergistic model 

(Figure 1). 

 

 

 

 

 

 

 



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Figure 1 

The synergistic model of the enterprise ecosystem within the framework of 

sustainable development 

Participants of the enterprise ecosystem

Enterprises 

and start-ups

Financial 

structures

Engineering 

centers

Venture 

companies

Non-

governmental 

organisations

Educational 

establishments

Synergistic effects of 

 enterprise ecosystems

Increasing the level 

of intellectual capital

Increasing of 

financial flows

Sharing infrastructure 

facilities

Application of tax 

preferences

Reducing 

financial risks

Reducing 

transaction costs

Implementation tools

Value-based 

management

Transfer 

pricing

Balanced 

scorecard

Business 

process 

reengineering

Peering of 

network 

interaction

Goals of the enterprise ecosystem formation

Reducing 

import 

intervention

Improving the 

investment 

climate

Concentrating 

resources on 

priority areas

Close interaction 

between 

government and 

business

Greening of 

activities

Increasing 

business 

innovation

Economic growth Social progress Environmental responsibility

Sustainable development  
Source: created by the author 

The presented model illustrates the transition from rigid management to flexible 

network structures, highlighting opportunities for integrating sustainable practices into 

business processes, diversifying activities, and outlining strategies for the balanced utilization 

of resources and productive collaboration among ecosystem participants. These efforts aim to 

leverage the competitive advantages of participants and achieve synergistic outcomes within 

the framework of sustainable development. 

Each ecosystem goes through certain stages in its development, which differ depending 

on the participants, the specifics of cooperation and intra-network connections. However, we 

can identify a general model of ecosystem development consisting of the following stages 

(Figure 2). 

 

 



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Figure 2 

The main stages of ecosystem development 

Potential ecosystem

Emerging ecosystem

Evolving ecosystem

Established ecosystem

Ecosystem in the process of 

transformation

Human capital

Qualified human 

resources,

researchers

Networking and 

collaboration 

institutions

Equipment, patents, 

technologies

Tangible and 

financial capital 

Social capital

 
Source: created by the author 

It is advisable to consider the main stages of the ecosystem life cycle in more detail. 

The first stage, a potential ecosystem, begins as a local concentration of enterprises in 

related and interdependent industries. There are agglomeration effects, but no integration 

mechanisms. The concentration of enterprises in one area causes competition and, at the same 

time, stimulates the development of technologically related enterprises. At the same time, if 

there are technological and organizational linkages between integrated industries that can 

become sources of productivity and competitiveness, enterprises are looking for ways to 

implement and commercialize them. This moment can be the impetus for the development of 

the ecosystem. 

The second stage is an emerging ecosystem. Competition between producers in the 

basic industry is reaching a noticeable level, and its pressure is forcing them to look for new 

forms and strategies of competition. The search is driven by innovations in the end-user value 

chain. Dynamic competition within the system results in increased specialization in line with 

the needs of the underlying industry, improved quality of raw materials, improved equipment 

and specialized services, and the development of employee competence. An important result is 

the beginning of close personal contacts between entrepreneurs participating in the ecosystem. 

The third stage is an evolving ecosystem. It is characterised by a high level of 

competition between manufacturers of the final product, developed markets for raw materials, 

equipment and skilled workers. New formal and informal cooperation institutions, non-

governmental organizations, and websites related to participating companies and the industry 

are emerging. The third stage may be driven by the emergence of new ecosystem participants, 

as the complex of interconnected ecosystem enterprises is assessed as attractive for investment. 

An innovation and source of development may be the involvement of enterprises from new 

industries that are part of a vertical integration chain or have horizontal links. 

The fourth stage is an established ecosystem. At this stage, the collaborative effects 

should be pronounced. The ecosystem is highly competitive, innovative and environmentally 

friendly. A high degree of vertical and horizontal integration has been achieved; markets for 

end products, raw materials, equipment, and human resources are highly developed; and 



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effective information exchange mechanisms are in place. Stimulating factors of development 

are a high level of competition and cooperation within the ecosystem, maximization of 

economic, social, cultural, qualification ties and protection of environmental interests. 

The fifth stage is a transforming ecosystem. It is characterized by a change in the form 

and properties of the ecosystem in response to environmental challenges. In order to function 

successfully in the new environment, the ecosystem should develop and perform new technical, 

product, information and management solutions, improve environmental standards, and 

implement improved social and economic principles of ecosystem functioning. 

It should be added that the dominant idea initiating the formation of an ecosystem can 

often be the production and implementation of an innovative project, the creation of a new 

product or technology, the development of digital platforms, etc. At the same time, one 

company can participate in several ecosystems simultaneously, implementing various projects, 

being, for example, a customer, a supplier of unique resources or a contractor of various 

projects 

Based on a preliminary analysis of the theoretical aspects of ecosystem theory, we 

propose key development vectors that enterprises need to implement in order to achieve 

sustainable development goals, synergistic effects, intensify innovative growth, and ensure the 

leadership position of entrepreneurial ecosystem in economic, social, and environmental 

aspects: 

 creation of a unified enterprise information environment and information 

management system. The utilization of algorithms and software to generate, transform, 

interpret information, and predict the development of business processes is essential for 

enhancing the efficiency of enterprise ecosystems in the digital age; 

 formation of innovative business processes. Special spaces such as accelerators, 

corporate innovation centers, and laboratories are being created and actively function to model 

the business processes of modern ecosystems. They serve as the foundation and key drivers of 

the new digital economy; 

 implementation of digital reverse engineering requires a set of technologies, 

hardware, and software tools. These tools are necessary for obtaining a digital model of a 

finished product, enabling further improvement or modernization; 

 ensuring energy efficiency within the ecosystem of enterprises involves certifying 

them according to LEED and BREEAM standards, which in turn leads to reduced operating 

costs; 

 establishing cross-industry cooperation, interacting with partners in professional 

associations and consortia, and collaborating with other ecosystems to organise social, 

economic and technological partnerships;  

 implementation of a customer-centric approach to management. The collection, 

analysis, and intensive utilization of customer knowledge, coupled with a strong customer 

focus, serve as critical tools for creating competitive advantages within the enterprise 

ecosystem; 

 developing HR partnership system is essential for maximizing the productive 

potential of human resources in addressing key tasks, implementing business functions, and 

optimizing production processes through effective cooperation and efficient communication; 



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 introducing the concept of lean manufacturing serves as a tool to optimize business 

processes, aiming to eliminate various losses in the functioning of the enterprise ecosystem.  

The purpose of implementing the proposed vectors is to ensure the continuous 

development and flexibility of participants within the enterprise ecosystem. This involves 

preparing them for ongoing adaptation to turbulent environmental conditions and accelerated 

technology diffusion. It also entails implementing new technological architecture solutions, 

fostering organizational learning, and creating a decision-making system that utilizes data from 

the product life cycle, supply chain, and all business processes. 

 

CONCLUSIONS 

Thus, to summarize the above, we can conclude that in recent years, the most effective 

functioning of enterprises has been ensured by ecosystem-based optimization, and the concept 

of ecosystems has gained both scientific and practical recognition. As emphasized by Wurth, 

Stam, and Spigel (2021), the most effective use of the capabilities of the enterprise ecosystem 

is possible only with a comprehensive program. This program should include the creation of 

active partnerships, intensification of the digital transformation of business entities, 

involvement of the research community, allocation of resources, and favourable tax regulation 

to create investment incentives. At the same time, the priority task is to establish a productive 

integration between the participants of enterprise ecosystem. This involves identifying priority 

areas of development to ensure a synergistic effect.  

Moreover, enterprise ecosystem plays a vital role in fostering an ethic of sustainable 

development, which encompasses developing a conscientious attitude toward the environment 

as the foundation of life. This includes observing the laws of its development, as well as 

adhering to restrictions and prohibitions. Additionally, it entails cultivating an ethic of efficient 

management, rational consumption, and a healthy lifestyle.  

The article examines various theoretical approaches to defining the concept of an 

“ecosystem”, upon which the author presents their interpretation. It is argued that the ecosystem 

offers optimal pathways and effective tools for fostering innovative economic growth based on 

the principles of sustainable development.  

The article presents a synergistic model of the entrepreneurial ecosystem. The key 

features of this model include: cross-industry interaction, which maximizes synergistic effects 

more effectively than corporate ties; diversification of activities with a focus on creating frugal 

innovations; environmentalization of activities alongside the commercialization of 

developments; mobility and flexibility of business processes; and autonomy of participants 

with a commitment to voluntary cooperation principles." 

It should be emphasized that the priority of ecosystem sustainable development implies 

a shift in focus from economic to ecological and social concerns, as well as from material to 

spiritual and informational values. Besides, it involves harmonizing society’s interaction with 

the environment. That is why there is an urgent need to form a new ecosystem model of 

economic development. This model should be based on the dominance of elements such as 

partnership between business structures and the state, broad and diversified support for the 

innovation activity of enterprises, and greening of activities with efficient resource 

consumption. 



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The prospects for further research lie in developing recommendations for the formation 

and functioning of enterprise ecosystems in specific regions and industries. The unique 

characteristics of each territory and business processes necessitate an individualized approach 

to establishing new ecosystems 

 

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