James Daly Editor-in-Chief The 10 Driving Principles Of The New Economy Where Business Is Going.
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James Daly Editor-in-Chief The 10 Driving Principles Of The New Economy Where Business Is Going
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Transcript of James Daly Editor-in-Chief The 10 Driving Principles Of The New Economy Where Business Is Going.
James DalyEditor-in-Chief
The 10 Driving Principles Of The New
Economy
Where Business Is Going
nTHE AGE OF THE NETWORK...
nTHE AGE OF THE NETWORK
nHAS BEGUN
n“ The next information revolution will engulf all of modern society. But it has started and gone farthest in business enterprise. It is forcing us to redefine what business enterprise is and actually should be.”
n- Peter Drucker
n“ In five years, there won’t be any Internet companies, because they will all be Internet companies or they will die.”
n- Andy Grove
nIndustries Most Affectedn(% increase in number of online purchases 1998-1999)
n- Travel +302%n- Music +269%n- Clothing +250%n- Auto Sales +216n- Consumer Electronics +205%nSource: IDG
New Buyers
+ New Sellers
+ New Marketplace
= NEW RULES FOR A NEW ECONOMY
n1. MATTER - It matters less.
nOld: Land, Labor, Capital = Value
nNew: Information = Infinite Value Bits are more valuable than
Atoms
n2. SPACE - Distance is dead.
nYour nearest customernAnd closest competitor
nIs just a mouse click away
n3. TIME - It’s collapsing.
n4. PEOPLEn- They’re the crown jewels.
Business Tools &Methods
Financials
New Ideas
Accounting Practices
Training
Knowledge Capital Future Sales
Personal Contacts
Marketing
n5. GROWTHn- It’s accelerated by the network.
nOld Rule: Scarcity = Wealthn nNew Rule: Ubiquity = Wealth
n6. VALUEn - It rises with market share.
n7. EFFICIENCYn- The middleman lives.
nInfomediaries:
n- Provide Navigation; Not A Destinationn- Expedite; Don’t Ownn- Represent; Don’t Supply Inventoryn- Aggregate, Don’t Create
n- Are Catalysts; Not Participants
i e
the
BUYER
Infomediary
SELLERS
nIndustries In Danger:n- Traveln- Auto Salesn- Insurance salesn- Supply Chain Managementn- Newspaper Classified Ads
n8. MARKETS
nBuyers are gaining new powern and sellers new
opportunity.
n9. TRANSACTIONSnIt’s a one-to-one game.
nIn A World of Abundance…
nHuman AttentionnIs the most valuable commodity
Personalization is Key
n10. IMPULSEnEvery product is available:n- Anytimen- Anywhere
n What’s Next?
n“Change is not merely necessary for life
n It is life”
n Alvin Toffler, futurist
THE FUTURE BELONGSTO THOSE WHO
CREATE IT
Where Business Is Going
