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THE FORTUNE AT THE BOTTOM OF THE PYRAMID
THE ECOSYSTEM FOR WEALTH CREATION
QUOTE:
“Richness” refers to an abundance of such resources.
LEARNING EXPECTATION:
These loose networks—of suppliers, distributors, outsourcing firms, makers of related products or services, technology providers, and a host of other organizations—affect, and are affected by, the creation and delivery of a company’s own offerings.
Like an individual species in a biological ecosystem, each member of a business ecosystem ultimately shares the fate of the network as a whole, regardless of that member’s apparent strength. From their earliest days, Wal-Mart and Microsoft—unlike companies that focus primarily on their internal capabilities—have realized this and pursued strategies that not only aggressively further their own interests but also promote their ecosystems’ overall health.
REVIEW:
The Ecosystem for Wealth Creation  refers to some accumulation of resources, whether abundant or not. wealthy (or rich) individual, community, or nation thus has more resources than a poor one. Even when resources are considered only in terms of physical assets, money, land, and items that can be given a monetary value, the measurement of wealth has varied over time and among cultures. Thus, for example, in some cultures pigs or cattle may be considered the most valuable possessions, whereas in others they have little value compared to other items. Distribution of wealth in a fair, if not equal, manner thus becomes difficult to achieve.
For many, the concept of wealth is not a physical one involving money or external resources, which may accumulate beyond a person’s ability to use wisely or to bring happiness. Other views of wealth include one’s health, time, and emotional happiness or spiritual growth. In such views, wealth is not just the collecting of items of value for personal use but includes the good that one can offer to society as a whole. For those who believe in an afterlife beyond our physical existence, wealth is generally considered in this light.
LESSONS LEARNED:
A company’s choice of ecosystem strategy—keystone, physical dominator, or niche—is governed primarily by the kind of company it is or aims to be. But the choice also can be affected by the business context in which it operates: the general level of turbulence and the complexity of its relationships with others in the ecosystem.
If your business faces rapid and constant change and, by leveraging the assets of other firms, can focus on a narrowly and clearly defined business segment, a niche strategy may be most appropriate. You can develop your own specialized expertise, which will differentiate you from competitors and, because of its simple focus, foster the unique capabilities and expertise you need to weather the turbulence of your environment.
INTEGRATIVE QUESTIONS:
1.    What is ecosystem for wealth creation?
2.    What kind of company aims to be?
3.    Is there a relationship with others in the ecosystem.?
4.    Defined the business segment?
5.    What is the constant change by leveraging other firms?