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Entrepreneurship and Strategic Thinking in Business Ecosystems
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Success in business ecosystems that include well-established companies and new ventures requires collaboration and competition, a task that demands strategic thinking to leverage a firm's resources and capabilities. Strategic thinking and the entrepreneurial activities in an ecosystem influence one another in a cycle that perpetuates and even sparks innovation. These interactions vary significantly across four types of business ecosystems-Orchestra, Creative Bazaar, Jam Central, and Mod Station-and determine the success and failures of new ventures and established companies. The nature and effect of the dynamic interactions in a business ecosystem can have profound implications for organizational success.