The School of Business and Management (SBM) ITB, through a series of webinars with the theme "Business Ecosystem: The Rise and Fall" tries to introduce Indonesia's term business ecosystem. This webinar became a joint discussion forum discussing the business ecosystem comprehensively by bringing in experts from SBM ITB and practitioners.

"The definition is simple. According to Moore, the business ecosystem is used to describe how the economic community works," said Togar Simatupang, a professor in management science and innovation systems, Friday (26/02/2021).

Prof. Togar explained that the business ecosystem is not just a collection of business actors but also a complex social system. He believed that the business ecosystem would be a solution for how to improve business performance.

Furthermore, Reza Ashari Nasution revealed that the terminology of business ecosystems is adopted from ecosystems in biology. Referring to the biological term, the ecosystem is where every living thing interacts with each other with its environment and is interconnected with resources. "The essence of an ecosystem is interconnected resources," he added.

In the context of the business ecosystem, he revealed that companies with great business ecosystems dominate the world's seven best companies. Their ecosystems make it easier for them to find resources, connect, and identify to build strengths.

Music and Startup Business Ecosystems

Wawan Dhewanto, Ex-Chair of the Department of Entrepreneurship SBM ITB from 2013-2018, quoting from Startupblink.com, explained that Jakarta is ranked 41st with the world's best startup ecosystem. The ranking is already great in Asia. In his presentation, he also presented several startup companies from Indonesia that already have high valuations, supported by a supportive ecosystem. The ecosystem consists of culture, policies, support, human capital, and markets.

"The entrepreneurial ecosystem is like a fertile land where those that grow there are much more successful than those that grow alone in an arid land," he added. Wawan also emphasized the importance of networking in building an ecosystem.

From the music industry, Irfan Aulia, the former guitarist of SAMSONS, explained that ecosystems could evolve. He gave an example that the music ecosystem had evolved three times, starting from the physical era, digital 1.0 disruption, and digital disruption 2.0. With this evolution, he emphasized the importance of digital marketing, building an ecosystem rather than silo activities, and opening up collaboration and collaboration opportunities. "In today's digital industry, we must be adaptive to maintain the ecosystem," he concluded.

Reporter: Deo Fernando (Enterpreneurship, 2018)
Translator : Billy Akbar Prabowo (Metallurgical Engineering 2020)