The Nature of the Open Firm
Business may be defined as a process that converts outside resources into outside economic results. Firms are created to enact value creation process. They identify an outside resource, procure them and process them to add value and release it back to market to get economic rewards.
Time is ripe for conceiving and building a new category of business firm entirely on the world wide web. Historically business may be seen as a process of identifying resources and converting them into economic values. Changing nature of resources have determined the nature of business and kinds of organizations created to conduct business. Discovery of iron created mining enterprises and invention of steam engine created transportation industry and factories.
The floating fund of data on the web represents the newest of business resources. One can imagine towards creating a new kind of business firm, cyberfirm to be built on these resources
Today the web has unleashed one of the most potent resource. It is the open-ended floating fund of data and resources stream. This stream is globally accessible.
The open firm is intended to create value out of this stream and a create a business around that. The entire range of activities of open firm happen on this stream. The resources needed for creating value, the process that is needed to create value, the market for its results are all found and realized on this stream
Time is ripe for conceiving and building a new category of business firm entirely on the world wide web. Historically business may be seen as a process of identifying resources and converting them into economic values. Changing nature of resources have determined the nature of business and kinds of organizations created to conduct business. Discovery of iron created mining enterprises and invention of steam engine created transportation industry and factories.
The floating fund of data on the web represents the newest of business resources. One can imagine towards creating a new kind of business firm, cyberfirm to be built on these resources
Today the web has unleashed one of the most potent resource. It is the open-ended floating fund of data and resources stream. This stream is globally accessible.
The open firm is intended to create value out of this stream and a create a business around that. The entire range of activities of open firm happen on this stream. The resources needed for creating value, the process that is needed to create value, the market for its results are all found and realized on this stream