Research on competition between already formed business ecosystems is progressing. However, research on the “formation process” of business ecosystems is comparatively underdeveloped. How business ecosystems are formed and who forms them is largely unknown. In this paper, the concept of ecosystem engineering, as seen in nature, is used to depict the framework for “business ecosystem engineering.” A real life example in forming a business ecosystem can be seen in the case of Anicom Insurance Company, a pioneer in the pet insurance industry. The results, revealed two types of ecosystem engineers in business field too. One is the generated type (Allogenic: formation from structural change) and the other the self-molding type (Autogenic: formation change from within the entity or body itself). The results further showed that the developmental process for a business ecosystem differed completely depending on the type of engineer leading its formation.

Financial crises are typically caused by a chain of credit contractions, which in turns could be caused by the rapid worsening of indexes that indicate people’s psychology, such as bank stock prices. The purpose of this analysis is to identify trigger points where bank stocks rise or fall by extracting what common points existed in financial economic indicators immediately before significant fluctuations of bank stocks occurred in the past. To conduct discriminant analysis, we used the traditional statistical method as well as ensemble learning. We also used “bank stock performance” as well as “bank stock regime change” as objective variables. This attempt showed that the money multiplier and 10-year yield of government bonds are important ones that could have an influence on bank stock regime change.

This paper focuses on antagonists in management of new business ventures, showing that antagonists exist among families, entrepreneurial colleagues, cheats, management teams and subordinates, venture capitalists and other investors, competing firms, customers, existing industries, and the venture-capital industry, as well as elucidating in specific terms for each case the reality of their situation, their reasons for their existence, their impact on management, and responses to them, all based on the findings of exploratory research and analysis.