Application of the Business Ecosystem Approach to the Transformation of Business Models in Industry

Abstract

Traditional industries that have dominated the market for decades are now facing new competitors that are changing the boundaries of industries and business models. These competitors are taking leadership positions due to the growth of digital technologies. One of the possible ways of successful functioning in the digital world can be the use of the concept of business ecosystems (BES), namely the introduction of a business ecosystem approach (BEA) to the formation of a new strategy for managing traditional business models. The article aims to reveal the relevance of the development of the BES concept and the use of BEA as a transitional element to the modern transformation of traditional industries. In this article, the author presents key conclusions on the refinement and use of criteria characterizing the functioning of business ecosystems for the organization of transformational processes, considering digitalization and intercompany integration. The author examines the example of the transformation of the light industry (textile and clothing) in the Republic of Belarus.