Transactional configuration of innovative development of business ecosystem

Today, a business ecosystem has become a model that maximizes profits by creating a pool of key stakeholders and strengthening its position in the innovative economy. The authors believe that one of the ways to determine the order of stakeholder interactions in a business ecosystem based on digital platforms is assessment of the transaction costs associated with these interactions. The purpose of this study is to develop an algorithm for adjusting the institutional support structure of a business ecosystem in order to rationalize transaction costs and ensure the ecosystem growth. The neo-institutional approach and the theory of transaction costs were chosen as research methodologies, on the basis of which the findings obtained from the analysis were supported and adapted to the determinants of business ecosystem structures. This study presents a causal model of the relationship between transaction costs and interactions within a platform-based ecosystem. As a result, the authors have developed an algorithm that aims to create a pool of stakeholders in the business ecosystem in order to achieve sustainable development within the innovative economy through optimized transaction costs. This algorithm has been tested in the ENSONS company, serving as a testing ground for the research. The authors’ developments allow firms to combine information from various actors on the platform in order to comprehend complex interdependencies between participants, identify potential areas for cost reduction and efficiency improvement through coordinated service exchange.