A#0/,04=/!=,*,!• Search and information costs• Bargaining costs• Enforcement costs
Z=0,%!• A firm will be larger if: – Costs of organizing internal are less than organizing it through markets – The risks of doing business internal is lower than external – There are advantages in supply due to size• Determinants – Ease of communication and cooperation – Information access and quality
A#0/,04=/!=,*,!• Social media: – Lower friction, easier to share information – Lower communication costs• Cloud – Easier to interface – Real time access to information from others – Lower transaction costs (e.g. market places)• Less advantage of Firm size
Z==#&$/04=/!*(#=8.(!<0#>%*,!• Demand and supply of services – Based on standards of work• Rating mechanisms – To increase trust and transparancy• Market manager – To insure equal opportunity and context
M($d!Transmit vs. Engage and ParticipatePreach vs. AdvocateCommand and Control vs. Influence and Persuade Informal andFormal and Instructive vs. ConversationalTell Your Audience vs. Build Community M(%3!D=3*+!
10#=<C=6$0!! ]%!#I0"0+D$(90% *(%!,(=#*!*%#<!#%,83*,! =@!*%(/=3=.C! 0/&!=-*0"0+D$(90% *(%!3=/.!*%#<!#%,83*,! Laggards Late majority e0#=/!c0/$%#! Early Majority Early adoptersInnovators
1785 R.B.Longridge and Company Bedlington First loco built 1837. Closed 18551790 William and Alfred Kitching, Darlington First loco 1832. Bought by Stockton and Darlington Railway in 1862. Closed 1886.1790 Benjamin Outram and Company, Butterley, Derbyshire Civil engineering firm, but had a strong interest in railways. Became Butterley Company in 18051795 Fenton, Murray and Wood, The Round Foundry Leeds, First loco 1812. Became Fenton, Murray and Jackson in 1826. f24/4=/!1805 Butterley Company, Butterley, Derbyshire Built locos for its own use plus two for the Midland Counties Railway. Closed in 1965, though the Butterley Engineering Company remained until c19831810 Haigh Foundry, Wigan First loco 1835. Closed 1856.1810 J and C Carmichael, Ward Foundry Dundee Two locos only in 1833. Became James Carmichael in 1853. Limited liability in 1894. Closed 1929.1816 William Fairbairn & Sons Manchester First loco 1839. Loco business bought by Sharp Stewart in 1863.1817 R and W Hawthorn Ltd, Newcastle Became Hawthorn Leslie in 1884.1819 Foster, Rastrick and Company, Stourbridge, Four locomomotives in 1829, including first in USA. Closed 1831.1823 Robert Stephenson and Company Newcastle Became R.Stephenson & Hawthorn in 1937.1823 Edward Bury and Company, Liverpool Became Bury, Curtis and Kennedy in 18421824 G and J Rennie, Blackfriars see George and John Rennie1826 Fenton, Murray and Jackson, The Round Foundry Leeds Closed 1843. Fenton took over Shepherd and Todds Railway Foundry in 1846.1826 Mather, Dixon and Company, Liverpool Moved to Bootle in 1839. Closed 1843.1828 Sharp, Roberts and Company, Manchester First loco 1833. Became Sharp Bros. in 1843.1830 Rothwell, Hick and Rothwell, Bolton Became Rothwell and Company18321830 Charles Tayleur and Company, (Vulcan Foundry) Warrington Became Vulcan Foundry in 18471830 Tulk and Ley, Whitehaven. Taken over by Fletcher Jennings Ltd. in 18571832 Rothwell and Company, Bolton Closed approx 18641833 Benjamin Hick and Sons, Bolton Last locos 1850. Became Hick, Hargreaves and Company, acquiring limited liability in 1889.1834 George Forrester and Company, Liverpool, Closed 1890. Last locomotive circa 1847.1834 Day, Summers and Company, Southampton, First loco 1837, became Summers, Day and Baldock in 1847.1835 James Kitson, Airedale Foundry, Leeds, Became Todd, Kitson & Laird in 18381835 John Coulthard And Son, Gateshead, Became R. Coulthard and Company in 18531836 Nasmyth, Gaskell and Company, Patricroft Became James Nasmyth in 18501837 Jones, Turner and Evans, Newton-le-Willows became Jones & Potts in 18441837 Henry Stothert and Company, Bristol, Became Stothert, Slaughter and Company in 1841.1837 Kerr, Mitchell and Neilson, Glasgow Became Kerr, Neilson and Company in 18401838 Shepherd and Todd, the Railway Foundry. Leeds, Became Fenton, Craven and Company in 18461838 Todd, Kitson & Laird, Leeds Also known as Kitson and Laird, also Laird and Kitson. Became Kitson, Thompson and Hewitson in 1842c1839 Thompson & Cole, Little Bolton Built five locos including two for the Birmingham and Derby Junction Railwayc1839 Stark and Fulton, Glasgow Built locos between 1839 and 1849c1840 Isaac Dodds and Son, Rotherham, First locomotive 1849 though possible previous work for the Sheffield and Rotherham Railway. Closed 18681840 Andrew Barclay, Sons and Company Kilmarnock First steam loco 1859. Began building diesels in 1935. Merged with Hunslet Group 1972. Still in business as Hunslet-Barclay)1840 Kerr, Neilson and Company, Glasgow, First locos 1843. Became Neilson and Mitchell in 18451841 Stothert, Slaughter and Company, Bristol, Became Slaughter, Gruning and Company in 18561842 Bury, Curtis, and Kennedy, Liverpool Wound up 18511842 Kitson, Thompson and Hewitson, Leeds Later Kitson and Hewitson, then Kitson and Company in 18631843 W.B.Adams, Fairfield Works, Bow, Steam powered carriage 1847. Locos from 1849. Adams radial axle box. Closed circa 1872.1843 Sharp Brothers, Manchester Became Sharp Stewart & Co. in 18521843 Gilkes Wilson and Company Middlesbrough First locomotives built 1847. Became Hopkins Gilkes and Company in 18651844 Charles Todd, Leeds Closed 1858. Taken over by Carrett, Marshall and Company1844 Jones and Potts, Newton-le-Willows Closed 1852. Jones then opened a company in Liverpool.1845 Neilson and Mitchell, Glasgow, Became Neilson and Company in 18551846 Hawthorns and Company, Leith Set up by R and W Hawthorn Ltd. to provide engines for Scotland. Closed circa 18721846 Fenton, Craven and Company. Leeds Became E.B.Wilson in 18461846 E.B.Wilson and Company, Leeds Built Jenny Lind Closed 18581847 W.G.Armstrong and Company, Newcastle on Tyne Became Armstrong Whitworth in 1897.1847 Vulcan Foundry, Warrington, Limited liability in 1864. In 1955 became part of English Electric. Last locomotive 1970. Works closed 20021847 Summers, Day and Baldock, Southampton No locomotives built after 1839. Later became Day, Summers and Company1850 John Fowler & Co., Leeds First locos 1866. Limited liability in 1886. Locomotive acttivies ended 19681850 James Nasmyth, Patricroft Became Patricroft Ironworks in 18571852 John Jones and Son, Liverpool Closed 18631853 Sharp Stewart and Company, Manchester, later Glasgow, Limited liability in 1864. Took over Clyde Locomotive Company in 1888. Merged into North British Locomotive Company in 19031853 R.Coulthard and Company Gateshead Closed 1865. Passed to Black, Hawthorn & Co1854 Beyer-Peacock and Company, Gorton, Manchester, Limited liability 1902. Famous for Garratt locos. Reorganised for diesel-hydraulic in 1961. Closed 19661854 Brassey and Company, Canada Works Birkenhead Subsidiary of Brassey,Jackson, Betts abnd Company. Last loco circa 18751855 Neilson and Company, Glasgow, Became Neilson, Reid and Company in 18981856 Slaughter, Gruning and Company, Bristol Became Avonside Engine Company in 18661857 Patricroft Ironworks, Patricroft Became Nasmyth Wilson and Company in 18671857 Ruston, Proctor and Company Lincoln Locomotives built from 1866. Became Ruston & Hornsby in 1918.1857 Fletcher Jennings Ltd, Whitehaven. Became Lowca Engineering Co. Ltd. in 18841858 Manning Wardle Leeds, Closed 19271860 Hudswell and Clarke, Leeds, Became Hudswell, Clarke and Rogers in 18701863 Dübs and Company, Glasgow Joined North British Locomotive Company in 19031863 Kitson & Co., Leeds Closed 19381864 Hunslet Engine Company, Leeds, Limited liability in 1902. Moved into diesels around 1930. Still occasionally built steam engines. Closed 1995, but the Barclay works remains as Hunslet-Barclay1864 Fox Walker, Bristol, Became Peckett and Sons in 18801865 Yorkshire Engine Company, Sheffield Acquired in 1948 by United Steel. Diesl units produced from 1949. Taken over by Rolls-Royce in 1965 and worked transferred to Sentinel of Shrewsbury.1865 Henry Hughes and Company, Loughborough, Became Falcon Railway Plant Works in 18831865 Black, Hawthorn & Co, Gateshead, Became Chapman and Furneaux in 18961866 Avonside Engine Company, Bristol Closed 19341865 Hopkins Gilkes and Company Middlesbrough Became Tees-side Iron and Engine Works Company Limited in 18751867 Nasmyth Wilson and Company, Patricroft Limited liability in 1882. Became Patricroft Royal Ordnance Factory in 19391870 Hudswell, Clarke and Rogers, Leeds, Became Hudswell Clarke and Company in 18811872 Barclays and Company, Kilmarnock, Merged with Andrew Barclay and Company in 18881874 Sir Arthur P. Heywood, Duffield Pioneered 15 inch gauge, see Duffield Bank Railway1875 W.G.Bagnall, Stafford, Limited liability in 1887. In 1951 taken over by Brush as Brush-Bagnall Traction Ltd.1875 Tees-side Iron and Engine Works Company Limited Middlesbrough Closed 18801877 Hartley, Arnoux and Fanning, Stoke, Taken over by Kerr-Stuart in 18931880 Peckett and Sons, Atlas Works, Bristol, Last steam loco 1958. Taken over by Reed Crane and Hoist Co until this also closed, but name carried on by Peckett and Sons of Ongar1881 James Kerr and Company, Glasgow Sub contracted loco building, then became Kerr Stuart and Company at Stoke in 18931881 Hudswell Clarke and Company, The Railway Foundry, Leeds Limited liability in 1899. Began building diesels approx 1920. Taken over by Hunslet Engineering1883 Falcon Railway Plant Works, Loughborough, Became Brush Electrical Engineering Company in 18891883 Dick, Kerr & Co., Kilmarnock, Locomotive production moved to Preston in 1919.1884 Clyde Locomotive Company Ltd., Atlas Works, Springburn Bought by Sharp Stewart in 18881884 Hawthorn Leslie and Company Ltd.,, Newcastle upon Tyne, Was R&W Hawthorne. Became R.Stephenson & Hawthorn in 19371884 Lowca Engineering Co. Ltd., Whitehaven. Became New Lowca Engineering Co. Ltd. in 19051886 Clyde Locomotive Company, Glasgow18861886-1888 taken over by Sharp, Stewart1889 Brush Electrical Engineering Company, Loughborough, Last steam 1914. Still in business producing diesel-electric locos.1893 Kerr Stuart and Company Ltd., Stoke, Closed 19301896 Chapman and Furneaux Gateshead Took over Black Hawthorne & Co. Closed 19021897 Armstrong Whitworth, Newcastle Last locos approx 1937.1898 Neilson Reid and Company, Glasgow Amalgamated into the North British Locomotive Company in 19031903 North British Locomotive Company, Glasgow, Closed 19621905 New Lowca Engineering Co. Ltd., Whitehaven. Closed 19121911 E.E.Baguley Ltd. Burton upon Trent Now Baguley-Drewry Ltd.1918 English Electric, Taken over by GEC in 19601918 Ruston and Hornsby Lincoln Last locomotives c1967. Now specialises in gas turbines.1937 Robert Stephenson and Hawthorns, Ltd Darlington and Newcastle on Tyne, Became English Electric in 1962
fh%*,!• (Unlimited) Scalability – Social networks scale: more people is more help• (Ubiquitous) Communication • Anybody can be reached at low costs• (Seamless) Cooperation – Platforms to aid cooperation are everywhere• Anytime, Anywhere – Instantaneous as well as a-synchronous• (Maximum)Transparency – Accessibility and trust through social relations LO!P!+Q!R!SN!R!L+!P!+H!R!HNH!T!!
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fh%*,!• (Unlimited) Scalability – IT becomes a scalable cost• (Ubiquitous) Communication • Transactions in milliseconds• (Seamless) Cooperation – Opening up internal systems for partners• Anytime, Anywhere – Instantaneous as well as a-synchronous• (Maximum)Transparency – Digital trust through access to data and certificates LO!P!+Q!R!SN!R!L+!P!+H!R!HNH!T!!
M=<%!*($/.,!/%E%#!(0/.%!• People remain people – Fundamental needs unchanged – Manifestation depends on culture• Human motives – Food, safety and shelter – Safety, amusement, sex – Social interaction – Respect, self-actualization• By understanding constant patterns we can predict what will have success
^%6%0*093%!• Clear Identitity – Clear and explicit definition of why and who you are• Information sharing – Make as much data accessible for as many people as possible• Intelligent search – Default search instruments for all data internal and external• Social Instruments – Make use of as many existing social channels as possible• Internal communication – Internal use of social tools to share information with all based on pull• Interaction with customers – Select the most important channels and monitor them• Interfaces – -
10/0.%&!• Clear Identitity – Regular check on perceived why internal and external• Information sharing – Customizable filters and triggers, usable by the end-user• Intelligent search – Context sensitive search, semantic web• Social Instruments – Reputaton mechanism, maximum transparancy• Internal communication – Automated mechanisms for sharing information• Interaction with customers – Give the customer complete choice of channels and monitor them• Interfaces – Automatic integration with binding transactions
p80/4q%&!• Clear Identitity – Consistent measurement of perceived and real image• Information sharing – Quantified methods on amount of information and empty spots• Intelligent search – Proactive processes to push information to relevant parties• Social Instruments – Metrics on the use and effectiveness of all channels• Internal communication – Metrics on the use and effectiveness of all channels• Interaction with customers – Metrics on the use and effectiveness of all channels• Interfaces – Metrics on the use and effectiveness of all channels
G//=E04=/!• Clear Identitity – Ability to change focus and core• Information sharing – Adaption to new information sources• Intelligent search – Ability to incorporate new technology in search• Social Instruments – Ability to incorporate new instruments• Internal communication – Ability to select communication channels based on metrics• Interaction with customers – -• Interfaces – Ability to implement new technology and standards
Z(0/.%!6#=%,!• Inspiration and commitment• What and How to disrupt• Consultancy and counseling• Training in tools and technology
M*0#*!0!M=$03!=<<8/$*C!• A community has a life of its own• Don’t search for ‘the one action’: change is a conglomorate of actions• Don’t start your change with trumpets and fanfare, just start: the only way to get people aboard is concrete results: not words• Work your leverage using the many, many triggers which can offer added value to your customer• Send your message in many different ways.
g/3$/%!G/*%#04=/!7#=6%/,$*C!• Participators – The ones that are the spine of the community – Connectors, Salesmen, Mavens – Value is respect, information, interaction• Lurkers – They value the information and use it in daily life – They give respect• Voters – Do not participate but tag – Help to find information 6.<(*:&7(."?(./#+%"#1&,,#(<#/)+?U#5%?#1)$+(:"*$#1(.+*6A)+"#+(#h*:V%($+"/#1(::"*16&,# (.,6."#1(::).67"$`1&*(,6."#56"*+d#&./#;(#/"#*)?+"*`ZRi^#)A,61&7(.$`YXXL#
]$>$6%&$0!• We shape our tools – Wisdom of the crowds – Quality of the Brittanica• Out tools shape us – Middle of the road (edit wars) – Untrusted (it should be) A(%!%/*#C!=/!*=$3%*!606%#!$,!*?$%!0,!3=/.!0,!=/!*(%!G#0s!?0#!
r=8*89%!• We shape our tools – Express yourself: everyone can make a video – Mainly short video’s• Our tool shape us – Short attention spans, clicking
g6%/!,=8#%!• We shape our tools – Free and accessible – Lots of motivated free time• Our tools shape us – Loss of innovation: no businessmodel