Although the verdict is still out, it appears that the new
"Dot-Com" economy fueled by the Internet is radically changing the way
business is transacted. And many scholars feel that what we are
experiencing is more than just a passing fad - it is a fundamental, yet
seismic, economic shift that will take our Post-industrial society into
the heart of the Information Age. Evidence of this phenomenon can be
found on Wall Street. Some experts point to the Internet and other
associated technologies, such as bar codes and Electronic Data
Interchange, as the primary reason for the unprecedented bull market
we've witnessed for the past 8+ years. One catalyst for this incredible
run is the explosive number of new Internet and communication related
companies that have created jobs and a tremendous amount of wealth; the
other is traditional corporations (e.g. Genreal Motors & GE) using this
new technolgy to squeeze inefficencies out of their operations.
So exactly how does a company use this new technology, namely
e-commerce, to generate profits? If you are a well-established
company with a long and illustrious history, the path to e-profits begins
with business process reengineering and rehabbing outdated
business practices. For the dot-com companies, there are several
profit-generation models available: some Internet firms use eyeballs and
banner advertising to make money; others act as reintermediaries,
delivering goods and services directly to the customer; still others
employ one-to-one marketing techniques that are used to
infomediate lifestyle-enhancing goods and services between
manufacturer and consumer; and finally, some companies are profiting as
web strategy consultants, helping other companies to navigate the new
economy. Below, you will find a more in-depth discussion of these
different topics.
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