Net gain: expanding markets through virtual communities
Net gain: expanding markets through virtual communities
Multi-agent Trading Environment
BT Technology Journal
An Introduction to Electronic Commerce
BT Technology Journal
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This paper looks ahead to the mid-term and longer-term effects of the eCommerce revolution. We are in the last few years of the domination of the industrial economy — soon the information economy, or network economy, will take its place as the main engine of wealth. The underlying trends that are driving this revolution are discussed and guidelines offered for success in the new commercial world. Often these guidelines seem counter-intuitive and against conventional commercial wisdom.The paper describes how customer and business relationships are being re-formed by Internet technologies, why the revolution is an all-pervasive irresistible force, and how it threatens previously profitable industries, while creating a multitude of new ones.Perhaps the most fundamental change for companies will be the advent of supply networks, an alternative to traditional, linear supply chains. For consumers the most fundamental change will be the increase in their buying power. The new role of advertisers, the importance of trust, the threat from ‘Big Brother‘, and the changes in the global economy are all examined.There are four main sections that look at issues for companies, customers, network-economy trends, and finally, a section that describes why some companies are at risk.