Chapter 4: The Ecosystem for Wealth Creation

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What I expect to learn?

I expect to learn about the wealth creation of ecosystem.

Quote:

“The business system is at the heart of the ecosystem for wealth creation.”

Review:

Ecosystem in market-oriented way is allowing private sector, and social actors, with different traditions and motivations and of different sizes and areas of influence to act together and create wealth in a symbiotic relationship. System adapts and evolves to be flexible. The Ecosystem for a developing country has many to consider such as competitive condition, availability of technology, nature of resource endowments, educational infrastructure. Building transaction entails to have self-governance. BOP consumers should support microsavings. BOP consumers must build trust for development. The marketing ecosystem and private sector are to be responsible and create transaction governance capacity at all levels of society. In creating transaction governance they should consider helping the poor understand the win-win situation and the firm by respecting contracts. The market-based ecosystem provides building the building of the basic infrastructure for BOP consumers that will be helpful in profitable growth markets. The governments are responsible in facilitating advancement of technologies to avoid poverty and corruption it is also for the development of market-based ecosystem and active involvement of large firms.

What I Learned?

·        Helping market of ecosystem

·        Self-governance

Integrative Question:

1.      Why is there a need for self-governance?

2.      What can the government do to help ecosystem market?

3.      How do we improve wealth of ecosystem?

4.      What is the main point of the author?

                         5.      Why do we need to be responsible for our ecosystem?