Download Business in a Virtual World: Exploiting Information for by Fiona Czerniawska PDF

By Fiona Czerniawska

Details certainly represents one of many key aggressive guns of the following decade, no matter if it takes the shape of monitoring the purchasing behavior of person clients or altering the cost of airline tickets minute through minute to use alterations renowned. the consequences for administration are large but such a lot businesses are nonetheless on the early levels of attempting to know how they could extract greatest worth for his or her details resources. This ebook appears on the effect of this knowledge revolution and indicates how businesses can take advantage of details for aggressive virtue.

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Moreover, in this new environment, small companies may have advantages that larger ones lack. First, because their contact with customers will mostly be channelled through the telephone, or increasingly e-mail, they will be able to record and keep track of their customer’s preferences and needs much more effectively than a company that communicates through mass-media. Second, they will be able to offer added value services, for example by personalising products that they sell based on the information gathered and manipulated through these new media.

Competition will revolve around information and knowledge rather than products or geographical markets. Notes 1. Peter Drucker, ‘The Information Executives Truly Need’, Havard Business Review, January–February, 1995. 2. ‘Start-Ups Pay Up’, Wired, May, 1997. 3. James Moore, The Death of Competition: Leadership and Strategy in the Age of Business Ecosystems, Chichester: John Wiley, 1996. 4 The Raw Material of the Future Information: the missing link in the information revolution The implications of the information revolution have been and will continue to be vast.

Perhaps what emerges is the result of a series of accidents and coincidences, as Stephen Jay Gould writes on the development of life itself: Any replay of [life’s] tape would lead evolution down a pathway radically different from the road actually taken… . 5 Just as our accepted ideas on evolution are now being challenged, so should this whole approach to the relationship between information and knowledge be open to question. The money your organisation spends on marketing is a good example. Imagine that you are the chief executive of a soap powder manufacturer.

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