10 Driving Principles of the New Economy. (Source: Business 2.0 , June 1999, pp.129). 1. MATTER 2. SPACE 3. TIME 4. PEOPLE 5. GROWTH. 6. VALUE 7. EFFICIENCY 8. MARKETS 9. TRANSACTIONS 10. IMPULSE. 10 Driving Principles. 1. MATTER. Matter. It matters less .
(Source: Business 2.0, June 1999, pp.129)
Matter. It matters less.
Space. Distance has vanished. The world is your customer --and your competitor.
Time. It’s collapsing. Instant interactivity is critical, and is breeding accelerated change.
People. They’re the crown jewels…and they know it.
Growth. It’s accelerated by the network.
Value. It rises exponentially with market share.
Efficiency. The middleman lives. “Infomediaries” replace intermediaries.
Markets. Buyers are gaining dramatic new power -- and sellers new opportunity.
Transactions. It’s a one-on-one game.
Impulse. Every product is available everywhere. The gap between desire and purchase has closed.
1. Customers matter.
2. One day, revenue needs to exceed cost.
3. Trust is the basis of business relationships.
4. There are only 24 hours in a day.
5. There will always be value in brands.
6. There will always be competition.
7. People are self-interested. (So are companies).
8. People need a powerful incentive to change their behavior.
9. Sex sells.
10. No one really wants a relationship with a phone (or cable) company!