Beyond Technology - Why We're Not Back to Business as Usual

  • Authors:
  • G. Cosier;P. M. Hughes

  • Affiliations:
  • -;-

  • Venue:
  • BT Technology Journal
  • Year:
  • 2001

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Abstract

Change, even rapid change, is nothing new. What did seem worrying was the way an apparent technology shift had turned the established wisdom of business growth and value on its head. Suddenly the brash new 'dot.coms', none of whom were making money or even looking like making money, enjoyed a market capitalisation way ahead of established businesses with huge turnover and solid profits. How could they defy economic gravity in this way? Analysis justified their numbers by pointing at the Internet. The technology changed the rules. The new game was about critical mass, defined largely in terms of customer reach in the virtual world. You had to have new business structures, lean and infinitely flexible, and new business models that helped you extract value at unexpected (and ever changing) places. Traditional measures did not apply. This is not business as usual! Technology after all is only a means to an end and not an end in itself [mdash ] we need to think about the next 'big thing', whatever that may turn out to be.