How Do Leading Firms Collaborate with Participating Firms to Achieve Value Co-Creation?A Case Study Based on Xiaomi's Ecosystem Chain
The business ecosystem functions as a vital organizational framework that facilitates the advancement of strategic emerging industries,enhances the positioning of future industries and accelerates the growth of associated enterprises.A profound understanding of the inherent mechanisms influencing value co-creation within the business ecosystem is essential for fully leveraging its potential.By using embedded case studies of Xiaomi and three other enterprises within its predominantly constructed business ecosystem,this study reveals that(1)dynamic changes in power within the business ecosystem originate from interactions between leaders and participants.This evolu-tionary process manifests as the gradual enlargement and eventual differentiation of power distances.Simultaneously,power behaviors expe-rience four stages:power formation,power constraint,power action,and power rebalancing.(2)Power distances between leaders and partici-pants stimulate their power behaviors within the business ecosystem.Specifically,both parties develop instrumental power,action power,and authoritative power when power distances are relatively small.As power distances increase,power imbalances intensify,leading to pow-er constraints within the business ecosystem,and prompting corresponding power actions.When the power distances differentiate,both par-ties engage in power rebalancing activities aimed at clarifying their positions and roles based on path dependence and opportunity depen-dence.(3)As power evolves dynamically within the business ecosystem,the value co-creation between leaders and participants demon-strates a wave-like progression,including several steps such as the evolution from value co-creation initiation,value co-creation distor-tion,and value co-creation competition,to value co-creation enhancement.This study deconstructs the dynamic changes in power dis-tance,power behavior,and power outcomes within the business ecosystem,enriching theories of business ecosystems,resource dependency,and value co-creation.It also offers insights for firms and governments to leverage business ecosystems for development.
business ecosystemvalue co-creationpowerresource dependenceXiaomi
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