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.
* 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.
"Making Markets provides an extremely readable, comprehensive, and intuitive account of the different kinds of auctions, exchanges, and price discovery mechanisms. It also offers insights into when electronic markets are apt to succeed or fail. I highly recommend this book. It has already helped me see the world differently."
-John Seely Brown, former Director, Xerox Palo Alto Research Center (PARC) and coauthor of The Social Life of Information
"This book is an up-to-date, realistic assessment of the potential gains and pitfalls of electronic markets. It is a very provocative guide to how to profit from auction and exchange technologies."
-Glen L. Urban, David Austin Professor of Management and Dean Emeritus, Sloan School of Management, Massachusetts Institute of Technology and Codirector, Center for eBusiness@MIT
"The Internet has had a significant impact on the way business is conducted and the way supply chains work and interact. Kambil and van Heck provide an insightful look at this impact and how it is evolving. A must-read for anyone interested in electronic business and the supply chain, Making Markets describes how businesses can concretely leverage the power of the B2B market."
-Hau L. Lee, Professor of Operations, Information, and Technology, Stanford University Graduate School of Business
"Executives know that their businesses function in the 'marketplace,' but few really understand the mechanisms of markets. In Making Markets, Kambil and van Heck decode the important architectural elements of markets and present them clearly and succinctly. Making Markets provides executives with a tool kit for contemplating participation in markets of any kind, whether physical or virtual."
— Mark Resch, President and CEO, CommerceNet
Author Biography: 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.
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.
* 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.
"Making Markets provides an extremely readable, comprehensive, and intuitive account of the different kinds of auctions, exchanges, and price discovery mechanisms. It also offers insights into when electronic markets are apt to succeed or fail. I highly recommend this book. It has already helped me see the world differently."
-John Seely Brown, former Director, Xerox Palo Alto Research Center (PARC) and coauthor of The Social Life of Information
"This book is an up-to-date, realistic assessment of the potential gains and pitfalls of electronic markets. It is a very provocative guide to how to profit from auction and exchange technologies."
-Glen L. Urban, David Austin Professor of Management and Dean Emeritus, Sloan School of Management, Massachusetts Institute of Technology and Codirector, Center for eBusiness@MIT
"The Internet has had a significant impact on the way business is conducted and the way supply chains work and interact. Kambil and van Heck provide an insightful look at this impact and how it is evolving. A must-read for anyone interested in electronic business and the supply chain, Making Markets describes how businesses can concretely leverage the power of the B2B market."
-Hau L. Lee, Professor of Operations, Information, and Technology, Stanford University Graduate School of Business
"Executives know that their businesses function in the 'marketplace,' but few really understand the mechanisms of markets. In Making Markets, Kambil and van Heck decode the important architectural elements of markets and present them clearly and succinctly. Making Markets provides executives with a tool kit for contemplating participation in markets of any kind, whether physical or virtual."
— Mark Resch, President and CEO, CommerceNet
Author Biography: 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.
Making Markets: How Firms Can Design and Profit from Online Auctions and Exchanges
224
Making Markets: How Firms Can Design and Profit from Online Auctions and Exchanges
224
Product Details
| ISBN-13: | 9781578516582 |
|---|---|
| Publisher: | Harvard Business Review Press |
| Publication date: | 06/24/2002 |
| Pages: | 224 |
| Product dimensions: | 6.34(w) x 9.49(h) x 0.96(d) |