Ebay

Now look at eBay (EBAY ). It began as trading pose for nerds, the newly jobless, and bored homebound parents to sell subprime goods: collectibles and attic trash. alone it quickly grew into a teeming metropolis of 30 million, with its thump laws and norms, such as a feedback system in which buyers and sellers come in each other on each transaction. When that wasnt quite enough, eBay organize its own police force to patrol the listings for fraud and burster out offenders. Theres an educational system that offers classes around the estate on how to sell on eBay. The company even has something alike to a bank: Its PayPal payment-processing unit allows buyers to make electronic payments to eBay sellers who bay windowt afford a merchant credit-card account. EBay is creating a second, virtual economy, says W. Brian Arthur, an economic expert at think tank Santa Fe Institute. Its opening up a whole new medium of exchange. Its also introducing a whole new mode of management in this net profit era. If Stuyvesant had a tough job bringing the scruffy denizens of his subsist city to heel in the backwater frontier of the New World, Whitman and her team up face even more challenges leading their economy in the full glare of the wide-open Internet.

Through the Web, eBays citizens have access, 24 hours a day, to every trend, every sale, every new statute in the eBay world. The system is utterly transparent. Now, thanks to the Web, this transparency is spreading, at varying speeds, throughout the entire economy. Executives everywhere are beholding a flood of knowledge jumble long-standing relationships with partners, customers, and investors. Think of political machine dealers, whose customers whoremaster learn with a few mouse clicks on the button how much the dealer paid for a car. Or electronics companies whose products can be subjected to scathing reviews on the very sites where theyre sold. As information spreads, power moves to outsiders and makes life miserable for managers who fail to adapt. But... If you want to get a full essay, order it on our website: Orderessay

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