In this article Dr. Thota discusses how SME leaders can utilize ecosystem resources for enterprise development and growth. SME leaders can leverage professional services available from intermediary organizations in the ecosystem to develop substantial solutions to customer needs. By learning to systematically mine key resources SMEs can achieve twin goals of sustainable development and cost advantage.
The ecosystem provides economic coordination and enables SMEs to compete against larger enterprises both locally and globally. SME leaders can learn how to systematically mine financial resources and utilize services of intermediaries to develop substantial solutions to customer needs. Ecosystems contain resources such as the accelerators/incubators that enable startup entrepreneurs to turn their ideas into enterprises; networks that facilitate connections between small and large enterprises, economic development agencies that connect universities and vocational educational training institutions to train qualified workforce and facilitate low local costs; and other organizations that…
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