As we enter the twenty-first century, business conducted over the Internet (‘e-business’), with its dynamic, rapidly growing, and highly competitive characteristics, promises new avenues for the creation of wealth.
E-business has the potential of generating tremendous new wealth. It is also transforming the rules of competition for established businesses in unprecedented ways.
Virtual markets refer to settings in which business transactions are conducted via open networks
based on the fixed and wireless Internet infrastructure. These markets are characterized by high
connectivity (Dutta and Segev, 1999), a focus on transactions (Balakrishnan et al), the importance of information goods and networks (Shapiro and Varian, 1999), and high reach and richness of information (Evans and Wurster, 1999). Reach refers to the number of people and products that are reachable quickly and cheaply in virtual markets; richness refers to the depth and detail of information that can be......
Join Now or Login to view the rest of this paper.
Approximate Word Count: 611
Approximate Pages: 3 (260 words per double-spaced page) |