Date of issue : Friday 10th 2000f March 2000
March, 10, 2000. No 3.
This is a monthly virtual magazine for the thinkers and doers of the 21st century.
This magazine is free of charges with a “right to copy”.
Editor: Mario Raich, Ph.D.
We are in the middle of a gigantic transformation. We are passing from the old industrial economy to the new knowledge economy.
At present this transformation is hidden behind the most virulent part of the knowledge economy, the “digital economy”. Many people see only this part of the knowledge economy and call it “new economy”.
We can watch the change of the paradigms and management practices as well. Most of the practices of the old economy are not applicable to the new reality.
The article “Managing in the New Economy (1)” explores some of the issues of the new ways to manage. This exploration will be continued next month in the second part of this article.
The year 2000 may well become the year of the beginning boom of the Japanese new economy.
The internet is revitalizing companies and entrepreneurship in Japan. Even the Japanese government is anxious to catch up with the USA and realize the full potential of the internet.
The number of internet users has surged from 8.8m in 1997 to 15m in 1999.
In 1998 only 35.6% of Japanese schools had access to the internet. In the USA 89% of the schools have access to the internet according to the Ministry of Posts and Telecommunications.
And where is Europe? In some countries the old joke about “inter what ?” does still apply.
FirstTuesday is a wonderful contact platform for people interested in the new economy.
If you are interested in joining one of the events in a city near by, look at www.firtstuesday.com.
You will be able to encounter investors, entrepreneurs and people looking for employment in a star-up.
People and practices are visibly the key ingredients of the new economy. Many excellent business ideas will have to be postponed because of lack of qualified people.
Many existing businesses will loose their brightest and best people to the e-business start-ups.
This will hit them heavily when they will begin to adapt their businesses for the digital economy.
There is no doubt about the fact, that no company will escape from this transformation.
We will see any array of e-business start-ups in the next years.
Inplace AG is preparing a “new venture” that will be able to help the start-ups with people and practices.
We will describe this venture next month in more detail.
Europe will take another route in the B2C business than the USA. The people over here have less PC’s but much more mobile telephones. In Europe we have about ten time more mobile phones that in the USA. Today this number is in the range of 15-20 Millions. Therefore the future of the B2C business and in part of the B2B business will be linked to the use of the mobile phones for access to the internet.
The third generation mobiles will be more of a communication device, than just a phone. Through the medium of high-speed wireless data, users will be able to access the internet, surf on the Web, send and receive e-mails, carry out mobile e-commerce transactions, and even hold videoconferences – all from handheld mobile portable communication devices. This will lead to a ubiquity in terms of time and place.
Anyway the European B2B market is set to open up. According to Durlacher Research Ltd. The EU B2B e-commerce will be worth USD 1.27 trillion in 2004, up from USD 76 billion this year. This means that B2B will account for 12.7% of EU GDP in 2004.
The trading hub recently announced by Ford, General Motors and DaimlerChrysler wiull trigger many similar trading hubs in different industries in Europe as well.
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The book “Managing in the Knowledge-Based Economy” is finally available. It is a hard-cover with 329 pages of fascinating content. This book is based on original management thinking. There is a wealth of ideas for the reader, that is willing to work through it. As Dr. Robert Tornabell, the Dean of ESADE-Business School is pointing out: “The charts and work sheets are particularly useful for executives, entrepreneurs and consultants who have to find ways to adapt to change and actively shape the future, which is the only way to be prepared for the unexpected.”
You will find some of the graphs used in the book in the file attached.
The more we are advancing into the new economy, the more it is evident, that we are touching new grounds in respect of the management practices too. We call this practices “ePractices”.
The virtual Magazine “Knowledge Economy” is free of charge.
We hope you will use our magazine as a platform for the dialogue between the academic research and the business application.
We use a policy of “Right to copy”. For details look at section 7 “Research” in the issue No. 1, 2000.
Please pass our magazine to your friends and business partners.
Thank you.
Mario Raich
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