Unveiling the core elements of platform ecosystem development: a systemic lens for value co-creation in small and medium enterprises and orchestrators

Abstract

Abstract Value conceptualisation has shifted from a firm’s standpoint to the ecosystem perspective involving multiple actors who integrate resources for value co-creation. This paper presents a structured review of the current state of knowledge, identifying and synthesising a conceptual framework of core elements for SMEs and orchestrators in developing platform ecosystems. The study adopts the PRISMA approach, bibliometric and thematic analysis to synthesise a conceptual framework for platform ecosystem development from the literature. Following the analysis, we identify seven core elements required in platform ecosystem development. The study also describes the interdependencies and interactions between platform orchestrators and SMEs and their implications for ecosystem development. Our paper advances theoretical understanding by shifting focus from a firm-centric to a multi-actor perspective in platform ecosystem development, highlighting the significance of actor-to-actor engagement practices. The proposed CIPP framework offers practical guidance for ecosystem managers, facilitating strategic navigation of complexities and fostering collaborative relationships among diverse actors while also providing insights for policymakers to design inclusive governance frameworks promoting transparency and trust within platform ecosystems. As with qualitative reviews, we acknowledge a possible bias in our choice of primary studies following our search terms and keywords targeted at actor-to-actor engagements in the platform ecosystem. The study was also limited by excluding non-English studies at the selection and outcome levels.