Markets are transitioning from place to space - but as the collapse
of the initial B2B boom demonstrated, the journey won't be easy.
Pioneering market makers from eBay and British Petroleum to the
Dutch Flower Auctions and ChemConnect are leading the way to create
new value through markets. Their experiences make two things
increasingly clear: success in the marketspace will require new
ways of operating, and participation won't be optional. Ajit Kambil
and Eric van Heck - respected authorities on electronic markets -
argue that online auctions and exchanges will soon be an essential
part of business practice. They explain why companies must adopt
electronic markets now if they hope to compete in the future. And
they prove that success lies not in achieving "first-mover"
advantage in new markets, but in creating winning strategies to
design and use markets to manage the supply chain, connect with
customers, increase efficiency, and make decisions.Based on the
authors' decade-long study of nearly one hundred successful and
failed electronic markets in the United States, Europe, and Asia,
the book reveals how market makers are rewriting the rules of
commerce. They offer a strategic blueprint for designing,
implementing, and profiting from electronic markets. "Making
Markets" shows how companies can: creatively use markets in
procurement, resale, and clearance, and in more novel applications
such as prediction, risk management, and decision making; design,
deploy, and stimulate the successful adoption of online auctions
and exchanges; utilize technology to support - not replace - human
interaction; leverage information to become more profitable buyers
and sellers; innovate in trade processes from pricing, payment, and
authentication to logistics and product representation; and, grow
markets through partnerships, alliances, and mergers.This highly
practical guide will help companies create the ultimate market: one
that captures the feel and trust of a physical community but
leverages the power and efficiency of technology to benefit all
participants. Ajit Kambil is Associate Partner and Senior Research
Fellow at Accenture's Institute for Strategic Change. Eric van Heck
is a Professor at Erasmus University's Rotterdam School of
Management, The Netherlands.
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