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featureed image Published 2020-08-12, by Kellie Auman

Taking an Ecosystem-Focused Approach: Now is the Time

Businesses are now starting to slowly reopen as the worst of the coronavirus disruption seems to be behind us, but it’s tough going for numerous reasons. From supply line disruptions, to employees who need to be kept at home due to virus exposure, businesses are having to be agile and look for creative solutions to the novel problems created by the pandemic.

However, for a future-focused operation, this is also an excellent opportunity to grow. There are businesses out there in serious need of resources, from raw materials to manpower, and they’ll be looking for partners who can supply those needs. These are companies who could be excellent additions to your ecosystem, providing you with much-needed resources as well, while improving the economic outlook for the ecosystem as a whole.

An ecosystem-focused approach to business boils down to having a focus on creating true partnerships between various operations you work with, one which goes beyond simple buyer/seller dynamics. It means collaborative decision-making, and implementing joint moves intended to improve the situation for all members of the ecosystem.

This makes ecosystem-based business economies particularly robust during hard times, like we see today. The large pool of resources available makes recovery easier, and having plenty of brainpower onboard means a higher likelihood of creative or agile solutions to problems as they occur. A strong ecosystem helps support all its member businesses, while they all contribute based on their own proficiencies to create a stronger overall business entity.

There are numerous ways this can be turned towards the problem of getting past the 2020 shutdowns:

  • Deliberately seeking out new partners with resources you need, while finding offerings within your own ecosystem that fit their needs.
  • Exploring the potential in your existing ecosystem partners, looking to make smarter use of resources already on the table.
  • Promoting more agile, department-agnostic collaboration within your own business. This helps break your workforce out of competitive or silo-based mindsets, working with teammates in other departments, rather than against them.
  • Expanding your internal communication, collaboration, and e-learning systems to encourage smarter problem-solving across partner businesses.

Expanded communications capacities are particularly important right now, with so many workers still furloughed, quarantined, or otherwise working from home. The easier you can make it for partner employees to contribute to the ecosystem, the more benefit you’ll gain – along with everyone else in the ecosystem. Grow your ability to encourage distance collaboration, and the effectiveness of your ecosystem will grow as well.

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By seeking out new partners and expanding the capacity of your existing partner network, your ecosystem can become a robust safety net that protects you from any more turbulence in the year to come.

LogicBay has the tools and services a growing ecosystem needs to maintain its momentum. We work directly with businesses to bring their departments and partners into closer alignment – contact us to learn more. See LogicBay's digital ecosystem for manufacturers, FUSE, in action above!