« Every ecosystem has its real and virtual value »
Akassimandou Akassimandou
Surrounding oneself with key individuals is vital during times of crisis. Why?
Today’s leaders are consistently required to acquire, help others acquire, and develop new skills, utilize their intuition and creativity, demonstrate acute political acumen and empathy, collaborate within teams, and integrate new paradigms.
A leader needs to be able to rely on a network of stakeholders to support and foster their actions. Similarly, on a personal level, the assistance of a lawyer, coach, therapist, or doctor is essential to guide them toward lasting success.
The concept of a business ecosystem has gained prominence in the strategic agendas of our leaders in recent years. This borrowing from ecological vocabulary aligns well with the changing nature of challenges posed by the market to executives. Thus, inter-business cooperation has grown stronger as market competition has intensified and value chains have become more complex: the famous « coopetition »!
As early as 1920, British economist Alfred Marshall outlined the dynamics and advantages of business concentration. More recently, Michael Porter (1998) popularized the concept of « clusters, » which he described as the geographic concentration of interdependent companies. These are suppliers of goods and services in broadly similar domains – who collaborate on producing a product with universities and sometimes even competitors. Clusters generate numerous positive effects: they help reduce costs, foster innovation, and more.
“ The best things that happen in the business world are not the result of the work of one person, it’s the work of an entire team.”
– Steve Jobs
It is therefore also crucial for the business leader to allocate a significant portion of their time to the building, maintenance, and enrichment of their network, both personal and professional.
The key to a successful ecosystem: time, humanity, and transparency.
Building a long-term human relationship means knowing how to trust, engaging in rich and continuous exchanges, as well as helping each other, sharing advice and opportunities. As you have understood, it’s about placing the value of partnership at the core of the company’s success. Structuring your ecosystem is strategic for taking care of your business, and the same applies on a personal level: finding the right doctor, the right coach, the right consultant, the right mentor is crucial for our functioning and long-term success.
The watchword is honest transparency: communicate openly about your projects and don’t hesitate to involve your partners in a conversation about the success of the company. Share your ideas and concerns. Be human. By inviting them to engage, you personally involve them in your success.
What are the key success factors of an ecosystem, and how to implement them?
Several factors are involved:
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Density
Having a density of supportive and demanding individuals around you is crucial. Being in an environment conducive to interaction, where passionate entrepreneurs and employees intersect (restaurants, cafes, companies, events…) can be a true incubator for ideas. As for myself, I always seek the input of multiple supervisors or co-coaches to help tackle a challenging issue. Reed Hastings (Netflix) refers to it as a density of talents.
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Interconnexion
Networking communities motivates teams, enhances their performance, and fosters innovation. Fruitful exchange enables the acquisition of complementary knowledge and fosters a sense of trust and challenge.
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Diversity
Mobilizing the best talents, regardless of their age, gender, background, environment, etc., is the best lever to enhance creativity as each person brings their unique approach, a new perspective. This open-mindedness will translate into significant resilience and adaptability for your organization, as well as at the level of your mental flexibility.
Creating a successful ecosystem means building circles, tribes around your business. It’s about thinking in terms of a comprehensive solution around the customer’s needs. Managing your ecosystem is both a factor of resilience and a growth accelerator. It’s about pooling your strategic assets to create a circular dynamic where everyone thrives by leveraging each other.
And you, who are your individual partners to strengthen your antifragility and professional partners to guide you toward the realization of your desires?
#leadership #ecosystem #transformation #coopetition #community